January 24, 2012

AN EASY ARGUMENT TO WIN:

Mitt Romney Releases Tax Returns: Paid $6.2M in Taxes but $7M to Church and Charity (SREEJA VN, January 24, 2012, IB Times)

His disclosures show he earned $21.7 million in 2010, for which he paid tax at the rate of 13.9 percent - therefore he paid approximately $3 million in taxes.  According to the report, his income will stand at $20.9 million in 2011, for which he will pay tax at the estimated rate of 15.4 percent, amounting to $3.2 million.

The reported income figures indicate, as expected, a major chunk of Romney's income comes from capital gains. According to U.S. tax laws, such income is taxed at 15 percent. Romney indicated the same, in a statement made before the South Carolina polls. [...]

Another interesting factor that emerged from the tax revelations is that he has donated a total of $7 million to Mormon Church and a general charity, starting from 2010, while the total tax he paid to the American government for the same period is just $6.2 million.


The two big contrasts with Mr. Gingrich?  The latter's returns reflect alimony payments and just $2.6% in charitable giving.  And, of course, Mr. Gingrich would tax capital gains at 0%.



Posted by at January 24, 2012 6:37 AM
  

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