1/24/2012

Romney's Tax Return: Nearly All "Income" From Capital Gains, Donates 15% To Charity

Posted by Brian
Mitt Romney's tax returns for 2009-2010 show that virtually all of his "income" came from investments and are legally taxed at the 15% rate required for capital gains. In addition, his returns show that he gave $7 million to charity, and paid nearly another $7 million in federal taxes. Leftists in the media will of course point out that this shows he is "out-of touch" with the middle class.  I can't wait to hear Diane Sawyer's report on this, complete with her obligatory "Wow!", to show her shock at Romney's unapologetic attitude toward his wealth. By the way, Diane Sawyer is worth $40 million. Or of Brian Williams, who is worth $35 million. Or Matt Lauer ($20 Million). Remember the fuss made about how wealthy John Kerry was ($186.6 million), and what his effective tax rate was when he ran against George Bush in 2004? Or that he decided to dock his $7M dollar yacht in Rhode Island to avoid taxes in Massachussetts?
Now that this has been released, let's put this to rest. It's a non-issue. We already know that the Democrats are going to use this as a class-warfare issue. Republicans need to quit beating this dead horse and get back to debating the issues.

Mitt Romney’s tax returns shed some light on his investment wealth

By  and Published: January 23

Mitt Romney offered a partial snapshot of his vast personal fortune late Monday, disclosing income of $21.7 million in 2010 and $20.9 million last year — virtually all of it profits, dividends or interest from investments.
None came from wages, the primary source of income for most Americans. Instead, Romney and his wife, Ann, collected millions in capital gains from a profusion of investments, as well as stock dividends and interest payments.
Read More at The Washington Post
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