Romney: OK For Millionaires To Pay Lower Taxes Than Middle Class
Mitt Romney agreed with the notion that it’s fair that millionaires like him pay lower federal income taxes.
Appearing in an interview on 60 Minutes, Romney told reporter Scott Pelley that his low 14% tax rate on income of $20 million dollars was right because its “the right way to encourage economic growth.”
Romney further defended the idea that someone earning $50,000 should pay higher taxes than he does from income earned from investments, “because capital has already been taxed once at the corporate level, as high as 35%.”
President Obama has proposed that investment income at Romney’s level be taxed at a higher rate in order to fight the deficit and to fund programs targeted at the poor and middle class.
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