Mitt Romney's Idea of Tax Fairness

Mitt Romney has a strange take on tax fairness. Romney's plan would cut taxes even more for himself—and raise them on the middle class.

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Transcript:

[PELLEY] You made on your investments personally about 20 million dollars last year and you paid 14 percent in federal taxes. That's the capital gains rate. Is that fair to the guy who makes 50,000 thousand dollars and paid a higher rate than you did?

[ROMNEY]: Yes, it is the way to encourage economic growth.

[INTERVIEWEE]: It is crazy that Mitt Romney wants to get into office and lower the tax rates for someone specifically like himself, who already has a low enough tax rate than average Americans.

[INTERVIEWEE]: 14 percent for a multimillionaire isn't a lot.

[INTERVIEWEE]: 20-30 percent of my money goes to taxes and here he and he's making millions and millions over me but proportionally he's not paying the same rate.

[INTERVIEWEE]: It doesn't make sense that someone like my father who pays 30 opposed to Mitt Romney who makes as about the same as he does in a year in about week pays half as much as he does in tax returns.

[ROMNEY]: There are 47 percent of the people who will vote for the President no matter what. All right, there are 47 percent who are with him, who are dependent upon government, who believe that they are victims. And so, my job is not to worry about those people. I'll never convince them.

[INTERVIEWEE]: Being called a victim is really offensive

[INTERVIEWEE]: These people who are called the 47% are not victims. I am one of them. I am college student. My parents are veterans, we are just average Americans.

[INTERVIEWEE]: I don't believe people wake up in the morning and say, "I think I want to rely on government and not be responsible for myself and my family.

[INTERVIEWEE]: I think it is a shame that he can call out people who are working as hard as they can to put food on the table.