Mitt Romney to release his 2011 income tax returns at 3p.m. Thursday, but what about the years prior to 2010? Paul Ryan and other potential vice presidential picks had to supply 10 years. We don’t want to see summaries, but the actual copies. Seems to me that they have something to hide. Mitt and Ann Romney paid $1,935,708 in taxes on $13,696,951 in mostly investment income, an effective tax rate of 14.1%.
Mitt Romney’s trustee said in a campaign press release that Romney artificially inflated his own effective tax rate so it would remain above 13 percent by deferring $1.75 million in charitable deductions. Romney had previously said that none of his last decade of tax returns dipped below that 13 percent threshold. Source
I am sure this admission by his trustee will spark some controversy, since he dodged behind loopholes and hung out in the gray area. After having a bad week, the last thing Mitt Romney should have sought solace in was the whole tax return problem. Why did he give such a big chunk of his donations to the church? At least I think that’s what they did. Are there no other charities they could have supported, since he claims to be for the 100 percent? Don’t be fooled. Mitt Romney had five months to have his accountants come up with a creative way to make him seem to be overly generous with his taxes. I would love to see the 2009 tax return to see if he got an amnesty for that Swiss bank account.
Flashback: “Mitt Romney says that if he paid more taxes than were required, he wouldn’t be qualified to be president,” the AP reported on July 29, 2012, according to Political wire.