Scarborough sees this as a gotcha moment because:
1. An 18% tax rate doesn't seem so high for the rich
2. Obama campaigned against Romney on his very low taxes-he averaged under 14% a year over a long period.
""Morning Joe" co-host Joe Scarborough on Monday -- Tax Day in the U.S. -- launched into a rant against President Obama after it was revealed that the President paid an 18 percent tax rate."
"So a guy who I hear is worth $14 million is paying a tax rate far lower than what a teacher pays," Scarborough said, adding the President's "hypocrisy is mind-boggling."
"This President plays class warfare for a year and a half on the campaign trail," Scarborough added. "Let's keep this graphic up. He attacks Mitt Romney for paying a lower tax rate than school teachers, repeatedly. Democrats repeatedly attacked Mitt Romney for paying a lower tax rate than teachers, than Warren Buffet's (secretary) -- poor Warren Buffet's secretary, God help her, God bless her. And yet this President, after demagoguing this issue for a year and a half, pays an 18 percent tax rate, which, by the way, is half of the tax rate that I pay."
A few reactions:
1. While Obama's $600,000 is certainly a very healthy amount, he didn't make a million last year and makes considerably less then Mitt Romney. He also paid at 18% a significantly higher rate than Romney paid.
2. Scarborough claiming to pay 36% without having the burden of providing a tax return. I doubt he made much less Than Obama last year-maybe he paid more.
3. Obama paid what he was legally obligated to-he did donate $150,000 to charity, a very healthy 25%. However, he just signed a bill that would raise taxes for taxpayers who make $600,000 so where's the hypocrisy?
4. The real fallacy is to personalize it. The issue isn't about comparing what Obama pays as opposed to Mitt Romney-again while both men are very affluent, Romney is still considerably richer and his "carried interest" deductions make us question the laws that allow such things. It's not about what Scarborough pays-or claims to pay without proof-either.
If Scarborough has a problem with rich people paying only 18% on their taxes then why doesn't he support the President's proposal to raise taxes on the? Is Obama a hypocrite for raising the tax on his own income or is Scarborough a hypocrite for only opposing low tax rates for one affluent person-Obama?
Obamas 600,000 is gross income not taxable.
ReplyDeleteI did my tax bill a couple months ago and my tax rate was 18% too. My tax bracket is about 30% but when all was said and done I only paid 18% of my gross pay in federal taxes.
No way Scarborough paid 36% of his gross pay in federal taxes. If he did he needs to go to H&R Block like I did.
Thing is about my tax bill, it is the simplest one can do. I have no deductions outside of charitable contributions and home mortgage interest and I still only paid 18% of my gross pay.