Rich Obama fundraiser says rich already pay their fair share.....

[NashuaDW]

12. Misleading terms ....

Your use of "effective tax rate" merges the tax rates between salary and dividends.

If Gov Romney (or anyone else) had all of his income from salary - they would pay a much higher rate.

Gov Romney, Mr Buffet, Mr Gates all receive the bulk of their income from dividends -- taxed at a much lower rate.

The argument is that dividends (generated by investment of already taxed salary) are taxed at a lower rate to encourage investment.

If, at the end of the month, I have $700 left ($1000 before taxes) I can invest it (put it at risk) and if my investment pays off .... I get a tax break on the rewards of my investment.

Doing an apples to oranges comparison clouds the water.

Let's simplify the tax code and decide how we want to tax and what rate.