Do You Pay More Tax Than Mitt Romney?

With Tax Day Approaching, Nevadans Shocked to Learn
They Pay Higher Taxes Than Mitt Romney

Las Vegas, NV – As Nevadans prepare to file their federal tax returns, it isn’t exactly comforting to them that many multi-millionaires are actually paying a lower tax rate than the average Nevada family.  Who are these multi-millionaires?  Well, corporate layoff specialist Mitt Romney for one.

In 2010, Romney paid less than what most middle-income Americans were required to pay. He made $21.7 million and paid nearly $3 million in taxes. That’s a tax rate of 13.9 percent.

How much does the average American family pay? 20%!

And this is what it looks like in Nevada:

  • The average, single teacher in the state of Nevada gets paid a salary of $51,777 and has a tax rate of 20.1 percent. That is 6.2 percent more than Mitt Romney pays.
  • The average, single housekeeper in the state of Nevada gets paid a salary of $27,090 and has a tax rate of 17.4 percent. That is 3.5 percent more than Mitt Romney pays.
  • The average, single registered nurse in the state of Nevada gets paid a salary of $77,480 and has a tax rate of 23.3 percent. That is 9.4 percent more than Mitt Romney pays.

[Source: Reno Gazette-Journal, 2/22/11; Bureau of Labor Statistics, May 2011;BarackObama.com]

Romney contributed just 0.1 percent of his income to Social Security and Medicare in 2010 via the payroll tax because the tax is only assessed on earned wages, but all of Romney’s income came from investments.  Most working Americans pay 7.65 percent.  Considering how little he contributes to Medicare, it’s no wonder Romney has no problem ending it by turning it over to private insurance companies.  But we digress…