Romney's tax rate is 15%, and that is a good thing

Washington Post:
Bowing to pressure from his Republican rivals as well as the Democrats, Mitt Romney told reporters here Tuesday that he plans to release his federal income tax returns this spring and estimated his rate at about 15 percent. 
“What’s the effective rate I’ve been paying? It’s probably closer to the 15 percent rate than anything,” Romney, a GOP presidential candidate, said. “My last 10 years, I’ve — my income comes overwhelmingly from investments made in the past rather than ordinary income or rather than earned annual income. I got a little bit of income from my book, but I gave that all away. And then I get speaker’s fees from time to time, but not very much.”
...
Having the capital gains tax rate low encourages investors to turn over their investments and pay taxes which results increased revenue for the government.   High capital gains taxes results in investors holding onto their investments longer and paying no taxes.

We are seeing a similar problem with overseas corporate profits staying overseas and not being repatriated because of our high corporate tax rate of 35 percent.  If that rate were 15 percent instead we would see that money coming back to this country and invested in new plant and equipment, creating domestic jobs.  The high rate is actually decreasing revenue to the government in the name of "fairness."

Clearly liberal tax policy is not too smart.
 

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