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What Message are Voters Getting on Tax Policy?

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    Stephen Moore of The Wall Street Journal weighs in on the tax debate and election.

  • Duration 3:36
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Thanks the call.

All right with 43 days to go into the election Obama campaign launched a new ad blasting governor Romney on taxes.

Right after -- released his 2011 returns on Friday.

So what does this mean for the final weeks of the campaign joining me more.

-- is Stephen Moore the lucky journal senior economic writer member of the editorial board Steve Perry have you pylori hi there a case of Rodney release his tax returns.

The president really realize that attack -- -- so what's the message voters are getting right now on tax policy but.

First of -- I gotta say this -- you know it's been a bad week for.

Mitt Romney went to break the news cycle -- basis text data.

But you know this was some basically what we are kind of expected when -- -- -- when -- expect what's actually in the tax return data.

He paid about two million dollars and and taxes that you're.

He is -- an extremely and his wife are extremely generous they give millions of dollars to charity and a church each year.

And is effective tax rate is about fourteen per side.

But one of the points I want to emphasize is when you take into account the fact that he's an ambassador in these companies when you when you take into account they.

The taxes those companies are -- 'cause he owns those companies is effective tax rate is up 14% it's closer to the thirty to 35%.

Now why is that figure especially the latter wind just described to west because we have business investment Steven Wright not resonating among most voters.

Yeah that's a great question.

Because it's simply true by the way you know corporation pays corporate income tax and the way to think of a corporate income taxes like a withholding tax right it's taxes -- -- at the corporate level before the money is passed through to shareholders.

And by the way as you know very well -- it's not just wealthy people who own stocks and now make investments companies -- -- A hundred million of us are owners of these companies and we also pay the corporate income tax that they hidden tax that Mitt -- has not done a very good job of explaining that's that look I pay -- -- the corporate level that is even accounted in my tax returns that I paid 14%.

On top of that and you point out his charitable giving four million dollars.

A lot of big hit yeah absolutely and again -- a lot of I mean there's -- -- going it he didn't have started interrupt you but he didn't even declare.

Are a lot of his charitable giving -- tax return which is an amazing thing and it diet -- To her to say that a guy gets four million dollars a year maturity and based two million dollars in federal income tax is not paying its fair share I just think it's it's a little bit of a stretch for the Obama people to make that charge so we've got the debates coming up what is -- need to do to reconnect with the parents.

I -- appetite to get right.

I mean he's got a he's got to get his game -- on he's got to be I think a lot tougher.

If he's got to attack all Bob -- look why has he done so poorly in the polls in the last few weeks because the Obama people driven the news cycle right on everything from you know it's 47% comment through his tax return data.

He's got to get a smack right on the issue Americans care about.

About jobs but how to grow the economy is got to convince the American people look at you do the things that I'm talking about energy a tax on regulation.

That's gonna create the jobs it makes a difference who wins because as you know Obama is -- -- -- That Mitt Romney has to take up he's gonna turn things around and by the way 4548.

Days governor we got robbed at a lifetime in politics of this thing is still.

It's still our coin -- -- -- so who's gonna win.

Stephen -- I enjoy your writing so much always so so insightful and we're so grateful that you -- -- time -- -- -- -- you your way back -- spot because of certain -- --

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