That compares with the 31% rate paid by Gingrich and the 14% paid by Romney, both of whom have much higher incomes.
| Tags: | federal taxtax ratetaxes |
The president seeks to raise $1.5 trillion in the next 10 years from wealthy Americans. Yet most of his proposals were also in last year's budget and went nowhere.
Facebook's IPO indicates its founder will pay a hefty tax bill for exercising stock options. That income is taxed at the 35% rate, since entrepreneurs don't get the same treatment as investors.
| Tags: | federal taxtax ratetaxes |
The GOP candidate's 13.9% rate draws attention to a tax break for investment execs that taxes profits at the capital gains rate of 15% rather than the regular rate of up to 35%.
Romney favors the orthodox GOP approach of lowering tax rates and overhauling the corporate tax system. Gingrich's plan is more radical and much more difficult to achieve.
A California campaign comparing reality star's tax bill with that of a middle-class earner is misleading and fails to account for federal taxes.
GOP candidate's proposal would cut taxes 62% for millionaires and put a major hole in the federal budget, analysis finds. Gingrich disputes deficit projection.
GOP presidential candidate Herman Cain -- the frontrunner, according to some polls -- has proposed a major overhaul of the U.S. tax system. What would it mean to taxpayers and the economy?
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