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Walter’s Perspective: Tax Day Not Fair On The Little Guy

Walter Jacobson

Walter Jacobson (CBS)

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CHICAGO (CBS) – Tax Day is not a good day for me, or for millions of Americans like me, digging deep for the IRS — while hearing on the news that President Barack Obama’s digging shallow, paying just a 20% tax rate; and Mitt Romney’s hardly digging at all, paying a 14% percent rate on the $20 million he earned last year.

And the lucky corporations like Verizon, and Boeing, and Apple making billions of dollars in profits, but paying less than a 10% tax rate for the IRS.

Those are lower rates than any I know, because big businesses hide earnings outside the U.S., because the politicians in Washington pass laws to allow it, because the lobbies pass cash to pass laws.

It’s no wonder public opinion of the Congress is 80 percent disapproval, because people suspect that what members of Congress care most about is the money they stash to campaign for re-election.

That is, in fact, what they care most about: money, in any which way they can get it.