Why The 47% Won’t Vote for Romney and Why It Reflects Poorly on America

Mitt Romney and Taxes

By Holly A. Bell

I don’t disagree with Mitt Romney’s comment that the 47% of Americans who don’t pay personal income taxes won’t vote for him, but for a different reason. He describes these individuals as “victims” who are dependent on entitlements. While the U.S. probably has people within this group who have a victim and entitlement mentality (what society doesn’t), it’s not the entire 47%. Yet, this group won’t vote for Romney, so the question is: Why?

The answer is very simple really: They are happy with the current personal income tax system. They won’t vote for Romney because he is running, in part, on modifying income taxes even though their own income taxes won’t be directly impacted. Why? Well, this is where the logic is flawed and the foundations of America are shaken: They don’t think people beyond their income bracket are entitled to keep 100% of their income (or more with earned income tax credits) like they are. It is less about being entitled to retain their income and more about the lack of entitlement of others to retain a greater portion of theirs. That noise you just heard was the Founding Fathers rolling over in their graves.

One of the arguments I have heard is that people in the 47% are “working people” or, for emphasis, “hard-working” people. As a teacher, I am in a job classification that is generally awarded status in this category. Yes, I work hard, but I’ve always rejected the idea that I work any harder than my dentist, a corporate executive, or a lawyer. I know because I worked in the corporate business world for 23 years before making the move to education. Don’t tell me these people aren’t working hard. Plus, as a “working person” am I entitled to keep less of my teaching salary because my husband makes a significantly higher income than I do? Under the current personal income tax system I only get to keep 67% of what I earn rather than the 100% many of my coworkers keep. I must not be working as hard as they are.

I have always rejected the idea that some groups are less entitled to their income than others under the American system of liberty (See “Who Are the 1%”). If we are going to have an income tax, then it needs to be just that…a tax on income regardless of source, who earns it, and/or what it is spent on. First, everyone should have to pay the same rate of taxes on income above a base level. Yes, people living at or below the poverty level should not have to pay income taxes, but everyone else should pay something.

Second, there are no deductions, period. It is a tax on income, not a tax on income that doesn’t go to paying your mortgage. Third, passive income is still income. If you earn income from investments it is still income and subject to regular income tax.

Again, if we want to have a system of personal income taxes in this country it should tax income, regardless of source, who earns it, and/or how it is spent. While this system would result in capturing income taxes from the highest .01% of income earners everyone is complaining “don’t pay their fair share”, suggesting everyone pay their fair share won’t get the 47% to vote for me either.

Holly A. Bell is a business professor, author, analyst, and blogger who lives in the Mat-Su Valley of Alaska. You can visit her website at www.professorhollybell.com.

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Romney image from Google