Friday, January 27, 2012

Quotation for Today: Swiss Mitt: The Quintessential Davos Man?

The quotation for today, across the jump, explores the issue of who among the people gathered at the World Economic Forum in Davos, Switzerland pays taxes at a higher rate.

"Indeed, in Davos this week, I will look around the room and ask myself who pays taxes at a higher rate — those eating the soup or those serving it?" 
Ed Miliband
Ed Miliband is a member of the British Parliament and leader of the Labour Party.  His comment raises important questions about the fairness of tax laws and how these tax laws contribute to the intense income and wealth inequality that exists in many of the developed nations.

Mr. Miliband's comment translates into American English as follows: 'Why does Mitt Romney, with income of $21.6 million in 2010, pay a lower effective tax rate than the person earning one percent of Romney's income  --  $216 thousand per year  --  and who works 40-plus hours per week?'.

You can read Mr. Miliband's complete New York Times op-ed by following the enclosed link.

Miliband, Ed. "Op-Ed: At Davos, Debating Capitalism’s Future." The New York Times 26 January, 2012: online edition.

Related information:

Oliphant, James. "Swiss Mitt: Democrats, Gingrich train fire on bank account." Los Angeles Times 25 January, 2012: online edition.

Mitt Romney's One Percent World.

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