Wednesday, April 11, 2012

A Thousand Words, Vol. 1, Issue 25.

Yesterday, Mitt Romney's tax return for the year 2010, with line seven (wages/salaries/tips income -- the main source of income for the 99%) on the 1040 left blank, was highlighted in this post. The tax form depicts Mitt Romney's tax information down to the adjusted gross income (AGI) figure on line 37. 

Today, an explanation of the Buffett Rule or what I refer to as the Fairness Tax Rule, which is a proposal to make the tax code more equitable and fair and is presently up for a vote in Congress, is presented here.  

As you watch the explanation of the Buffet Rule/Fairness Tax Rule, please keep in mind that news agencies, here and here, have reported that Romney's effective tax rate for 2010  -- when his AGI was more than $21.5 million -- was less than 14 percent. 

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