New York (CNNMoney) - Mitt Romney's videotaped remarks made public this week point to at least one true fact: Nearly half of American taxpayers do indeed end up paying no federal income tax.
In footage taped with a hidden camera at a Romney fundraiser in May, the Republican presidential candidate describes the "47% of the people who will vote [for President Obama] no matter what." He says they are "dependent on government" and "believe they are victims." They "pay no income tax," he says.
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You know, if we just got rid of all tax breaks, the effective tax rate would be incredibly low. Last I saw it would be about 6%.
What would you rather have? 20%+ but you have to lie/cheat you way down, or 6% flat.