romnax
so president obama said romney pays about 15% federal taxes which is "much less" than "many" middle class americans. the washington post gave him three pinochios for that one. hrm. let's look at it in terms of wealth taxes. romney's net worth is some $230 million. he paid some $3 million in federal taxes. that's a rate of 1.3%. pretty cushy if you ask me. the median family's net worth is about $67k. its income is $50k. its effective tax rate is 15%. its wealth tax rate is 11%. give or take. but you know what? it just doesn't fucking matter if i'm off by a few percentage points. for romney his tax burden is nuthin'. for everyone else it's a sizable chunk. so yeah. obama's statement is dead on. romney's 1.3% tax rate is definitely *much less* than what *many* middle class americans pay when measured in the only metric that really matters: the percentage of your stuff that you fork over to uncle sam each year.