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Capital Gains Tax

February 8, 2012 by staff 

Capital Gains Tax, Former Gov. Romney doesn’t have a job. He has no earned income except the “few” dollars he earns in speaking fees. Yet Gov. Romney has an income of about $20 million a year and pays a tax rate of around 14 percent because most of his income comes from capital gains.

Here in Oshkosh teachers teach our children. Nurses take care of the sick. Various people take care of our very young children in day care centers while others take care of old people in nursing homes.

Thousands work at Oshkosh Truck. Firefighters enter burning buildings. Police put their lives in danger everyday. Bus drivers need to drive buses in terrible weather as garbage collectors do the same. Two different newspapers are on my doorstep before 6 a.m. When someone falls into the icy lake or river someone else dives in to save them.

I live in an apartment complex, very modest, small apartments. Not many expensive cars in the parking lot. Yet those who are not old like me, and that is most people who live here, get up early and go to work. Cars starting leaving at 6 a.m.

Gov. Romney makes more in a day than most of these people make in a year. Some would say that is the free market system.

The people I previously mentioned and most others that you and I know in general pay a tax rate higher than Gov. Romney. How can this be? Is this fair? Is this moral? Should people like Gov. Romney pay the same rate on his capital gains as other people pay on their earned income?

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