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Former President Bill Clinton said tax rates such as the one paid by Republican presidential nominee Mitt Romney last year aren’t helping the U.S economic recovery.
“I don’t think we can get out of this hole we’re in if people at that income level only pay 13, 14 percent,” Clinton said on CBS’s “Face the Nation” today.
“It’d be interesting, I think, for the American people to see how the ordinary income years were treated, but apparently we’re not going to get to see that.”
The former Massachusetts governor and his wife make most of their income from investing an estimated $250 million fortune, and much of that income is taxed at a top rate of 15 percent, rather than the top rate of 35 percent for wages.
Clinton doesn’t support a temporary extension of the Bush-era tax cuts for wealthier Americans.
He said that if Obama were to extend the cuts another year for top earners “one more time would put him in a very disadvantageous position.”
http://www.businessweek.com/news/2012-09-23/clinton-says-tax-rates-like-romneys-wont-help-economy
“I don’t think we can get out of this hole we’re in if people at that income level only pay 13, 14 percent,” Clinton said on CBS’s “Face the Nation” today.
“It’d be interesting, I think, for the American people to see how the ordinary income years were treated, but apparently we’re not going to get to see that.”
The former Massachusetts governor and his wife make most of their income from investing an estimated $250 million fortune, and much of that income is taxed at a top rate of 15 percent, rather than the top rate of 35 percent for wages.
Clinton doesn’t support a temporary extension of the Bush-era tax cuts for wealthier Americans.
He said that if Obama were to extend the cuts another year for top earners “one more time would put him in a very disadvantageous position.”
http://www.businessweek.com/news/2012-09-23/clinton-says-tax-rates-like-romneys-wont-help-economy