So Mitt Romney finally wised up that he was taking a beating on the tax issue and released a whopping two years of tax returns.
Republican presidential candidate Mitt Romney released tax records on Tuesday indicating he is paying $6.2 million in taxes on a total of $42.5 million in income over the years 2010 and 2011.
Bowing to increasing political pressure to provide more detail about his vast wealth, the former private equity executive released tax returns indicating he and his wife, Ann, paid an effective tax rate of 13.9 percent in 2010. They expect to pay a 15.4 percent rate when they file their returns for 2011. Link
No wonder Mitt didn’t want to release his tax returns. He’s paying a far lower percentage of his income than most middle class Americans. And it’s all investment income, which means that if his or Newt’s tax plans go into effect, he would pay even less in taxes.
Why should a fabulously rich guy pay a smaller percent in taxes than someone making $50,000 a year? In what universe is that a fair system?
Why should a fabulously rich guy pay a smaller percent in taxes than someone making $50,000 a year? In what universe is that a fair system?
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