One of the strongest elements of Mitt Romney's spectacular debate performance was his decisive rejoinder to the president's oft-repeated allegation that the Republican plans to raise taxes on middle class families. Obama said Romney has designs on an unpaid-for $5 trillion tax cut that would eventually necessitate higher tax bills for average Americans. Romney flatly rejected the claim by calling it false, then explained what he actually has in mind. But the president returned to the "$5 trillion" well on several subsequent occasions, prompting more rebuttals from his challenger. FactCheck.org and CNN reviewed Obama's accusation, and found it wanting....
In response to:
First, your 100,000 and current rate at 25% is a distract or. You imply (first) the current tax is 18.75 (18,750 of 100,000). Actually, if the 18,750 were correct, that'd be off of an AGI of 75,000 (in your simplified example). But, SURPRIZE, the fed income tax is progressive, so (according to 2011 tax table for married joint-- the 25% rate for 100,000) you current tax would be a little less than 11,000. So, from your income of 100,000 it'd be about 11 %. Um, what was your point? That taxes are too complicated for you to discuss cogently? Point taken.
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