SIMPLE MATHEMATICS

There is an Obama for President TV ad running here that, I think, takes advantage of the mathematically illiterate.  It says that Mitt Romney made $20 million dollars in 2010 and only paid 14% in income tax.  It adds that, "This is probably less than you paid." 

Of course, they are saying that 14% is less than the normal rate of tax for taxpayers.  I guess that's right since the majority of taxpayers pay at the 15% rate before deductions.  I guess the word "probably" covers them for the 48% of Americans that pay no taxes.  I'm sure that most of them are incensed by the realization that Romney paid so little. 

Now, let's do the math that the Obama campaign hopes you don't bother to do or are incapable of doing.    14% of $20,000,000.00 is $2,800,000.00.  That's two million eight hundred thousand dollars he paid in income taxes in one year.  More than most of the people watching the TV ad will ever make in their lifetime.  Of course, the probable reason the rate was low was because of deductions allowable under our current tax code.  Evidently, he gives so much to charity and invests and re-invests so much in American businesses that his rate is reduced.   Now, how many people watching that ad believe he paid less in taxes than they did?  Too many, I fear.

:-)