Paul Ryan Would Like To Eliminate Romney’s Tax Shelters
Bob Schieffer: You say of course the wealthiest people pay the larger share, but don’t they also pay at a lower rate? When you figure in capital gains and all of that?
Mitt Romney: Well, it depends on the individual, what their source of income is. But if you look at the top one percent or five percent or quartile, whatever, they pay the largest share of taxes. And that’s not something which I would propose making smaller.
Paul Ryan: What we’re saying is take away the tax shelters that are uniquely enjoyed by people in the top tax brackets so they can’t shelter as much money from taxation, should lower tax rates for everybody to make America more competitive.