Mitt Romney's Tax Rate

The main reason Romney's effective rate is so low is that the American tax code contains a lot of preferences for investment income over labor income. That's something that strikes many people as unfair on its face, and particularly unfair since it often means very low rates for extremely rich people like Rommey. This is definitely an issue where the conservative position is in line with what most experts think is the right course, and Democrats are outside the mainstream, says Slate's Matt Yglesias.