Mitt Romney this morning said that he has been paying close to 15 percent on his income taxes in recent years, a figure that is likely to be used by his political opponents to cast the former Massachusetts governor as out of touch with average Americans, many of whom pay at a much higher rate. “What’s the effective rate I’ve been paying?” Romney, who has declined to release his tax returns, said at a press conference here. “It’s probably closer to the 15 percent rate than anything. Because my last 10 years, I’ve -- my income comes overwhelmingly from some investments made in the past, whether ordinary income or earned annually.”

Comments

ashcom

01/17/2012 02:49 PM

What percent of his gross income and what percent of his net income does he pay? What is the difference between his gross income and his net income? I would hazard a guess that the tax he pays is only a very small percentage of his gross income. Also, have any assets been place in his family's names? Please run an article on the difference between gross and net income -- especially how these amounts can differ for those millionaires and billionaires.

CaesarAmericanus

01/17/2012 05:06 PM

Wouldn't it be nice if the working class only had to pay 15%?