It's not enough for Republicans and Conservatives to just accuse Obama and the Democratic Socialist Party of engaging in class warfare. We have to educate ourselves and speak out to set the record straight and to do our part to stop the the liberals from perpetuating more lies. Recently a news reporter asked a liberal democratic congresswoman from Florida how she would explain to her constituents back home how the average American pays 28% in income taxes, yet Mitt Romney, a millionaire, only pays 15%. The liberal congresswoman used the question to perpetuate more lies and demagoguery. Here are the facts: 87+% of Americans pay less than 15% in federal income taxes. Mitt Romney paid 15% capital gains tax, not income tax. Capital Gains taxes are taxes on investment, not earned income. Capital Gains taxes are double taxes because taxes have already been paid on the invested money and then the interest/profits are taxed again. So as you can see, the liberal media is clearly propagating class warfare with lies and deception and it's just beginning. Investment that results in capital gains taxes often leads to the creation of jobs. President Obama has used this kind of deception, calling it the Buffett rule (for Warren Buffett), to make the argument that the rich should pay 30% in taxes so they will be paying as much as the working class. Never mind the fact that Mitt Romney's 15% in Capital Gains taxes equaled several million dollars. History has clearly demonstrated that a capital gains rate of 30% is a deterrent to investment and to the creation of new jobs. Help stop the lies by speaking out and sharing the facts with everyone you know who might be misled by these lies. The real income tax rates are listed below and clearly show that the rich do pay a higher percentage on earned income, which is very different from capital gains. This was borrowed from Forbes website on today's date:
making sense of your finances
9/30/2011 @ 4:34PM |122,762 views
2012 Federal Income Tax Brackets (IRS Tax Rates)
Federal Income Tax Brackets for 2012
Here’s a quick rundown of what the Federal income tax brackets are expected to look like in 2012:
| Tax Bracket | Married Filing Jointly | Single |
| 10% Bracket | $0 – $17,400 | $0 – $8,700 |
| 15% Bracket | $17,400 – $70,700 | $8,700 – $35,350 |
| 25% Bracket | $70,700 – $142,700 | $35,350 – $85,650 |
| 28% Bracket | $142,700 – $217,450 | $85,650 – $178,650 |
| 33% Bracket | $217,450 – $388,350 | $178,650 – $388,350 |
| 35% Bracket | Over $388,350 | Over $388,350 |
And here are a few related points:
- The personal and dependency exemption will rise to $3,800
- The standard deduction for married filing jointly will rise to $11,900
- The standard deduction for singles will rise to $5,950
Looking ahead, last year’s fighting resulted in a two year extension of the Bush-era tax cuts, which means that they’re currently set to expire at the end of 2012. As for what 2013 has in store for us, your guess is as good as mine.
Nickel, Contributor 
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