Surprise, surprise, GOP presidential frontrunner and multi-millionaire Mitt Romney said he pays roughly a 15% effective tax rate on his income. This is an acknowledgment that the he pays a smaller percentage of taxes on his income than many middle-income Americans.
“It’s probably closer to the 15 percent rate than anything,” Romney told reporters when asked about his effective tax rate. “The last ten years my income comes overwhelmingly from investments made in the past rather than ordinary income or rather than earned annual income.” Source: CNN
Still think Warren Buffet is blowing a lot of smoke when he says he wants to pay more taxes? The rich are making out like bandits at the expense of the middle class. No wonder he was hesitant to release his tax returns. Now let’s see what other interesting information is forthcoming about his returns.
Copyright 2012 The Hinterland Gazette
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