Saturday, September 22, 2012

Forty and Seven

Trey Smith


It has been all over the news this past week that GOP presidential candidate Mitt Romney was taped saying that 47% of the American populous doesn't pay federal income tax and that he's not worried about trying to win those people's votes.   The one part of the media circus around these comments that I don't get is that everyone has assumed that those 47% are all poor people!

There are a lot of rich individuals and families that don't pay any federal income tax either.  The difference between the two groups is that poor don't make enough money to be eligible to pay the tax, while the well-to-do utilize legal (and, sometimes,  quasi-legal) deductions and other tools to bring their tax bills down to zero.

I'm not suggesting that the majority of the 47% are wealthy, but I would guess that they represent a significant portion.  Does this mean that Mitt Romney doesn't want to woo them either?

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