The AP reports on an additional reason for Mitt Romney to run really, really hard to win this thing:
WASHINGTON (AP) — To see where the presidential candidates stand on taxing the rich, just look at how they’d tax themselves. Under his own proposal, Mitt Romney would pay half what he would under President Barack Obama’s tax plan. For a man of Romney’s means, that could save almost $5 million a year.
For Obama, not as loaded as Romney but still well-off, losing re-election could provide a tax windfall. He’d save as much as $90,000 a year if Romney’s plan were enacted rather than his own tax-the-rich vision.
Two nonprofit research groups, the liberal-leaning Citizens for Tax Justice and conservative-leaning Tax Foundation, did the calculations, based on the most recent completed tax returns released by the candidates. Compared with what they owed in April, both men would be dinged in 2013 under Obama’s proposal, along with other wealthy taxpayers. They could expect savings under Romney, depending on which tax breaks the former Massachusetts governor decides to oppose….
That’s assuming, of course, that paying a lot more in taxes matters to Mitt. It apparently doesn’t to his opponent, but of course, he has less to lose.
If I had Mitt’s fortune, I don’t think it would matter to me. But then, that’s probably because I’m not the kind of guy who was ever motivated go out and amass all those bucks. Chicken or egg thing.