Romney Pegs His Tax Rate at 15% (ONLY 15%)!!!

[joeybee12]

I hope he's the nominee...it will put the focus on EVERYTHING that is wrong with our tax code AND capitalism unregulated.

http://firstread.msnbc.msn.com/_news/2012/01/17/10174817-romney-pegs-his-tax-rate-at-around-15-percent

FLORENCE, S.C. -- Mitt Romney estimated Tuesday that he pays about a 15 percent effective tax rate on his earnings, a much lower rate than many middle-class Americans pay.

Facing increasing pressure from his GOP rivals, particularly former House Speaker Newt Gingrich and Texas Gov. Rick Perry, to release his tax records, Romney seemed to commit to release some returns after having been somewhat cagey on the topic at last night's presidential debate.

If and when those records are released, Romney suggested they would show he pays about 15 percent of his earnings to the government.

"It’s probably closer to the 15 percent rate than anything. Because my last 10 years, I’ve—my income comes overwhelmingly from some investments made in the past, whether ordinary income or earned annually," Romney said in response to a question about his effective tax rate. "I got a little bit of income from my book, but I gave that all away. And then I get speakers fees from time to time, but not very much."

[deacon]

1. K + R

[uponit7771]

2. This should be a stick!!!

My God, I heard this and thought who in the hell would vote for THIS guy right NOW!?!?!?

[pnwmom]

3. It's probably less than that. All he said was that it's "probably"

as close to that than anything else.

Depending on his form of income, he could be paying much less than 15%.

[flpoljunkie]

5. Does anyone believe Mitt does not know exactly what his effective tax rate is?

[badtoworse]

4. I don't believe he has a salary, so it's probably all investment income

That gets taxed at a lower rate that is available to everyone.