BLOG: Why Do I Pay a Higher Tax Rate than Mitt Romney?

Now that tax day has come, I'm wondering why I have to pay twice the tax rate of Mitt Romney? The tax code used to make the rich pay a higher rate than the middle class, but now the rich pay far fewer taxes overall than real, working Americans do. Here's an overview of taxes we pay.

• Yes, the federal income tax rate for high-income individuals is more than the middle class. However, most high income earners don't pay this kind of tax. When you hear that Steve Jobs only took a one dollar a year salary, it's not because it's a noble act—he just didn't want to pay taxes.

• Capital Gains Tax is far lower than regular income tax. Capital gains is making money in investments like the stock market, commodities trading or currency trading. The rich take their big tax breaks and load it back to the government to finance the debt caused by their lower tax rate. They also use the money to invest in oil futures driving up the price of gasoline for the rest of us.

• Payroll taxes, like Social Security and Medicare, that are deducted from payroll only apply to about the first $100,000 of payroll income. It doesn't apply to capital gains income. So if you earn a living by the sweat of your brow you pay 15 percent more taxes than if your money works for you.

• Sales tax is mostly a tax on the poor and middle class. You might say, "Doesn't everyone pay the same 9 percent sales tax?" Yes, when they go to the grocery store, but the rich spend a lot less of their money on taxable sales items while the middle class and poor spend almost every dime they earn.

• Most of the super rich have overseas bank accounts that allow rich people to earn money in a different country and not have to claim it as income because it hasn't entered the United States. This allows income to be accumulated without taxes being paid. So when you hear about Mitt Romney having money in the Cayman Islands, that is why it's there.

America is in a deep hole and it's going to take a lot of work to get out. The debt isn't money we owe to China, it's money we owe to to these rich people who get the tax breaks and leave us stuck with their bills.

The $14 trillion debt we have was caused not only from two useless wars, but from funding the super rich, which is where most of that money went. When they collapsed the banking system we handed over the $4 trillion in welfare. This has got to end because if society collapses, the rich collapses as well.