A new "scary" Obama ad vilifies Romney for only paying 14% of his income as income tax to the federal government. My thought, so what? But I thought, what the heck, I will check my own numbers. Turns out I paid about 12% of my adjusted gross income (AGI) in taxes. Further, if you factor in that my 401(k) like retirement plan and my flexible spending plan (for medical) contributions aren't taxable, I paid closer to 10% of my income as federal taxes. I feel like Romney might need better tax advice, but in my experience his tax percentage is a lot bigger than mine.
More to the point, his tax rate means that he contributed millions in taxes to the federal government. Why the vilification?
So I am asking my readers what percent of your AGI did you pay in federal income taxes?
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