Republican presidential candidate Mitt Romney released his 500 page 2010 (and estimated 2011) tax return, this morning. They show him paying $6.2 million dollars in taxes on an income of $42.5 million dollars, about 14%.
That seems pretty low for someone who is a millionaire several hundred times over. However, to be fair, most of his income comes from investments, where the capital gains tax rate is just 15%.
That seems pretty low for someone who is a millionaire several hundred times over. However, to be fair, most of his income comes from investments, where the capital gains tax rate is just 15%.
His father, Michigan governor George Romney paid 37% tax on an income of roughly $1 million dollars in 1967.
Hmmm.
Hmmm.
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