Defending the masses...

Sure, he made his returns public.  Sure, he pays all his taxes.  Sure, he worked hard for that money.  I get all that, and your point is valid.

But you lost me at "he doesn't work"...

If the day ever comes where you are asked to lend your voice to those cheering Romney on to victory in November, please leave that part out... no average American voter is going to want to try and relate to someone who not only doesn't have a "job" but doesn't even need one.

{insert irony symbol here}

Seriously... I applaud the man for doing what he did in showing the world his fiscal background.  We certainly know more about Mitt Romney than we do about Barack Obama, don't we?  But before we get too emotional and choked up over the injustice of Governor Romney's tax burden, please let me make one point of observation concerning your observations...

You wrote "What this means is Romney is effectively paying a double tax. The money he originally earned was taxed as income. He then invested that taxed income. When the investment pays off (which it doesn't always do) it is then taxed AGAIN, at 15%."


This is as much a "myth" as anything you are trying to "bust".

I'm not defending Capital Gains... but the gains tax is on what the investment (capital) earns (gains) between Jan 1 and Dec 31. It is that income that is taxed... not the original (principle) portion of the investment.  Furthermore, since 1988, were the Honorable Mr. Romney to direct that the earnings on his investments be made part of the principle before the calendar year ends, he owes no taxes on those earnings.  This is true of any income that might be Capital Gains eligible.  Thus, he in NOT being taxed twice, ever.  He's not even required to pay the gains tax unless he spends what he has gained.

The same is true of moneys made in real estate.  You buy a house at $100,000 and pay it off in 12 years, at which time it is valued at $250,000.  You sell the first house for $250,000 and buy another house for the whole amount... you owe no gains tax, because your "principle" investment is now $250,000 rather than the original $100,000.

All that said, I'm NOT arguing with your post.  Romney paid what he owed... no one can ask more than that.  What he paid and what he earned is no one's business but his and the IRS, and the IRS seems more than satisfied.  If people want to piss and moan about Romney (or anyone else) being part of that "1%" please remind them that every Democratic member of the Senate, Obama and Biden are all, also, part of that top "1%".