Noble, he doesn't pay them. In Oklahoma, long term capital gains (on Oklahoma state taxes, over 5 years) isn't taxed as revenue, it's not taxed at all. Same for Social Security and Medicare, his capital gains aren't subject to those taxes. So even with the minimum tax rates, a single childless employee pays at a minimum a 7.65 (SS and medicare), 5.25 on Oklahoma taxes, and the lowest income tax bracket presently (10% up to $8,500, goes up to 15% at that point). So for a person making $20,000 a year, that individual pays 28% (7.65 SS, Medicare, 5.25 State, 15% federal withholding), and a self-employed individual at $20,000 would be paying over 35% (15.30 SS and Medicare, 5.25 State, and 15% federal withholding), compared to Mitt Romney's 13%.