On Tax Day all Americans should all pay their fair share.
Asheville, NC—Today millions of Americans file their federal income tax returns, but some of the wealthiest taxpayers won’t be paying their fair share.
Middle class Americans pay approximately 30 percent of their income in federal income taxes, while millionaires often pay a substantially lower rate. For example, in 2010, Mitt Romney, Republican candidate for president, paid a startlingly low rate of 13.9 percent. Moreover, some corporations pay no taxes at all while raking in billions of dollars in profit. During the 2008-2010 period, 30 corporations paid zero in federal taxes, while their profits totaled $160 billion during that period.
Patsy Keever believes there are a number of ways we can ensure everybody pays their fair share of taxes. “First of all, we should enact the Buffett Rule,” says Keever, “so that no household making more than $1 million each year pays a smaller share of their income in taxes than a middle class family pays. In addition, Congress should close current tax loopholes that allow corporations to dodge tax responsibilities.
The “Buffett Rule” is a tax concept promoted by Warren Buffett and embraced by the Obama administration which states that millionaires and billionaires shouldn’t pay a smaller percentage of their income in taxes than middle-class families do. Under the Buffett Rule, individuals who make more than $1 million a year would have to pay a tax rate that is no lower than the tax rate of an average middle-class family.
Rep. Patsy Keever (NC-115) is a Democratic candidate for the U.S. House of Representatives in North Carolina’s 10th Congressional District. Keever taught in the public schools for more than 25 years and served on the Buncombe County Board of Commissioners for 12 years. In 2004, she ran a spirited, grassroots campaign for Congress. In 2010, Keever was elected to the North Carolina House of Representatives from NC District 115.