The left is math challenged

“There's absolutely no use trying to explain to these crusaders for justice that Romney pays 13 percent because 1.) He reduces his taxable income with millions in charitable donations, and 2.) His income derives primarily from capital gains on investments, which are taxed at a lower rate than income from a paycheck.

Investment income gets a tax break because the government wants people to invest. Investment creates jobs, spurs development, expands the economy and ultimately reaps greater tax revenues.

When George W. Bush lowered the capital gains tax to its current 15 percent rate from 20 percent, revenue from the tax soared over the next three years and helped the nation avoid the severe economic downturns that easily could have followed the 9/11 terrorist attack, the Iraq War or Hurricane Katrina.”

From The Detroit News: http://www.detroitnews.com/article/20120819/OPINION03/208190307#ixzz2413So8vZ

I reduce my tax burden  because of charitable donations—although that’s not why I donate, and because I’m retired, some of my income comes from capital gains investments.  Should I have these “loopholes” but not rich guys like Romney and Obama and Buffett? How much do you want to hurt retirees by raising capital gains taxes?  How much more money do you want to chase out of the country?  I also have other loopholes that some poor people don’t have, like real estate taxes.  Some poor people don’t even have the opportunity to pay taxes so they can claim these deductions, but I’ll leave it to you to decide if that is fair.