Romney or Obama

Debate 2:

One of the things that Mitt Romney said I paid more focus on than anything else is that he said during his tax plan is anyone with an annual income of $200,000 or less would no longer have to pay taxes on bank dividends, capital gain or interest off investments. I made notice to this statement because I fall into that category. Hmm, the senator wants to help me save a few bucks, how thoughtful. Knowing politicians, I wondered what the catch was. So, I did a Google search on comments to that from brighter minds than my own and this is what I fount:

Daily Kos - Romney Introduced His Biggest Trojan Horse Ever During Debate

I get dividends or interest from investments. Not much but still enough to make me take notice. Without doing anything and as long as I keep my money in the investment, I get $500 to $1000 annually for example on one of my investments. At the end of the year it gets taxed, depending on your income bracket you can pay a fungible 15% or higher (if your income bracket is higher) on that bank dividend, capital gain or interest off an investment. Now say the IRS taxes 15% of my $500, that means at the end of the year, I owe them $75, if they tax my $1000, I owe them $150. That $75 or $150 is such a negligible amount on an annual basis or compared to people on the grander scale who make their living from interest or dividends off investments.

Let us take New York City's Major Michael Bloomberg for example, his salary for being major of New York City is just $1.00 (no that's not a typo or a misplaced decimal). The $1.00 salary trend falls under many wealthy individuals like with the late Steve Jobs and Governor Arnold Schwarzenegger, just to add a name or two. The reason they only take one dollar salaries is because the bulk of what they earn do not come from salary but dividends or interest earned off their investments or capital gain. Their payout is way more than my $500 to $1000, now you're talking in the hundred thousands or millions. Mitt Romney's net worth is $250 million dollars, he can easily make the one dollar salary apply to him, thus he falls under the $200,000 or less bracket. He will then no longer have to pay taxes on his $250 million or money made off it. At the very least that's what he's trying to do for him and those on top. But guess who still does still have to pay taxes to aid the national debt?