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Tue Jan 24, 2012, 12:42 AM

Romney Tax Records Show He Made $42.5 Million Over Two Years - Reuters/MSNBC

Romney reports tax bill of $6.2 million for 2010-11

<snip>

TAMPA, Fla./WASHINGTON 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.

<snip>

Link: http://www.msnbc.msn.com/id/46110741/ns/politics/


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Response to WillyT (Original post)

Tue Jan 24, 2012, 12:44 AM

1. OMG. No wonder $300 thousand something is not alot of money to him.

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Response to WillyT (Original post)

Tue Jan 24, 2012, 12:44 AM

2. Pretty good for a guy that's "unemployed"

Poor, poor Willard.

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Response to tridim (Reply #2)

Tue Jan 24, 2012, 12:52 AM

6. That was my initial reaction.

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Response to tridim (Reply #2)

Tue Jan 24, 2012, 03:20 AM

8. Rich people are never "unemployed"

Rich people who live off their investments, like Mitt Romney, are "the leisure class."

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Response to WillyT (Original post)

Tue Jan 24, 2012, 12:45 AM

3. He knows what it's like to feel like he may get fired?

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Response to WillyT (Original post)

Tue Jan 24, 2012, 12:49 AM

4. Self-delete.

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Response to WillyT (Original post)

Tue Jan 24, 2012, 12:51 AM

5. Where are the other 10 years? The public needs to see a full record.

10 years should show how he did before, during and after the recession. People need to specifically see how he made his money, the bulk of his money. These tax returns are only showing he income off of his investments, we need to see the record of the initial investments.


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Response to WillyT (Original post)

Tue Jan 24, 2012, 12:54 AM

7. Those are some hefty unemployment checks. n/t

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Response to WillyT (Original post)

Tue Jan 24, 2012, 04:58 AM

9. No wonder he can afford to run for President for a decade.

It ain't gonna get him the job, but with that kind of scratch, he can afford to tilt at windmills.

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Response to WillyT (Original post)

Tue Jan 24, 2012, 05:06 AM

10. if only he could get a tax cut, he could provide jobs being the job creator he is

due to his being wealthy.

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Response to WillyT (Original post)

Tue Jan 24, 2012, 05:45 AM

11. I'm betting he paid way less than 13% for the years before 2010

If he thinks it's over, he's crazier than I thought

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Response to WillyT (Original post)

Tue Jan 24, 2012, 06:16 AM

12. Last year, he gave more money to the Mormon Church (15%) than he payed in taxes (14%).

Interesting.

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