Mitt Romney Tax Returns Released: Paid Just 13.9% Rate In 2010, Had Swiss Bank Accoun

Mitt Romney Tax Returns Released: Paid Just 13.9% Rate In 2010, Had Swiss Bank Account


TAMPA, Fla./WASHINGTON, Jan 24 (Reuters) - Republican presidential candidate Mitt Romney released tax records on Tuesday indicating he will pay $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.

Romney's tax rate is below that of most wage-earning Americans because most of his income, as outlined in more than 500 pages of tax documents, flows from capital gains on investments.

Under the U.S. tax code, capital gains are taxed at 15 percent, compared with a top tax rate of 35 percent for wage earners.

The tax rates Romney reported paying could add fuel to a national debate over the fairness of the tax code, and coincides with broader concerns about income inequality symbolized by the Occupy Wall Street movement.

 

Personally, I am glad he done good, congratulate him and wish to join him.

I will only worry about the USA when people would rather take from the rich rather than want to join them.

Seneca

 

85% of people pay less then 15%

 

I agree, people on the left see it as him only paying 15% and whine that he needs to pay more, as if bringing him down will somehow make their life better.

I look at it and see a guy who paid over 3 million dollars in taxes, last year and donated another 4 million dollars to charity. That is 7 million dollars of the money HE EARNED IN THE PRIVATE SECTOR which which he gave away that went to helping other people. And the left wants to complain about him......

 

You strawman is overdue for a tune-up, and your narrative is starting to get old and frayed. Time for something new and peppy.

 

Of course you will never hear that from the left either.

 

Funny, I was just thinking the same of you.

 

And people are complaining about taxes being to high

 

What percent he paid is irrelevant. You don't deposit "percents" into the bank. You deposit dollars.

He paid a good amount of those, and everything was legal and in accordance to IRS laws. Good enough for me.