Is Branstad part of the 47% not paying taxes?
just saw this although it appears to be 6 months old:
http://thinkprogress.org/economy/2012/04/25/471260/iowa-governor-tax-loophole/
President Obama and Senate Democrats have been trying to implement the Buffett rule, a minimum tax on millionaires, which would remedy the problem of millionaires being able to pay lower tax rates than middle class families. One state lawmaker in Iowa thinks his state needs its own version — the Branstad rule — after Gov. Terry Branstad (R-IA) was able to pay just $52 in state income taxes on his nearly $200,000 in income:
<<snip>>
Branstad was able to pay such a low amount because Iowa is one of just six states in the country that allows residents to write off their federal income tax payments from the previous year on their current year’s tax return. So Branstad was able to apply his 2010 federal income tax payments — which were paid on the salary he received from his prior job as the president of Des Moines University — to this year’s state income tax bill.
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double dips, pays no taxes. Goddamn, Terry could be their next pres. nominee.
