Mitt Romney admits: I pay 15% tax on $200m personal fortune

Posted on January 17, 2012 by Cowboy Byte
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Republican frontrunner Mitt Romney highlighted the gap between himself and average Americans on Tuesday when he maintained he did not make “very much” from speaking fees, even though the $370,000 earned in a single year would be considered a fortune by many middle-class Americans.

His comments came at a press conference while out campaigning in South Carolina ahead of its potentially decisive primary on Saturday. Romney is the favourite to win in South Carolina, enjoying a double-digit poll lead over his nearest rival, former speaker Newt Gingrich.

At the press conference in Florence, he disclosed that he pays a tax rate of only 15% in spite of having an estimated wealth of $200m.

Romney has so far resisted offering details about his financial dealings but, during the presidential debate in Myrtle Beach on Monday night, he finally bowed to pressure and said he would “probably” release his tax returns in April.

Continue Reading on www.guardian.co.uk

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  • Terry Black

    On top of that the Globalist Banksters Fund Romney’s Political campaign along with Obama’s!

    Search: Romney and Obama Share Dame Bankster Campaign Contributors

    • T-Texas

      If this is within the law more power to him.I am sure the democrats are the ones that made the law.

      • Dingbat36

        It is definitely within the law…………..he lives on the dividends and income from INVESTMENTS which are taxed at a very different rate from taxes on Income……………..Romney draws no “income” from anywhere. Money from investments is only taxed when you actually receive it, even the interest received can be rolled back into the investment in the form of more stock and is not taxed at all at that point. Romney is taking that money, it isn’t salary and isn’t taxed the same way.

        Do any of you have any investments, an IRA, a 401K? Those pay you interest which is taxed differently (whether you have ever seen it and even if it is just dumped into your retirement accounts) from the money coming to you in the form of a paycheck.

        • jmj

          In other words, the money is comming from a source that has already been taxed.

        • Larry B.

          Everyone needs to know about investment income. One would not be so quick to condemn this type of income. YOU HAVE TO PUT MONEY UP TO MAKE MONEY! Unlike community organizers who live off the other persons’ wallet.

          • Amazedamerican

            Plus, the money that went into those investments, has already been taxed when it was first earned. Jealousy is one of obamas worst traits.

    • Cindy Banks

      You had a typo on Dame Gangster, it is Same Gangster. Here is a link to what you were referring to, as to Romney being the same as Obama. And at the top of the list as usual is Goldman Sachs, it keeps getting scarier.

      http://www.opensecrets.org/pres12/contrib.php?id=N00000286

      • azwayne

        When you all admit Bilderberg is the controller of your government , you will learn where to look, they backed carter, clinton, bush, odumbo, romney, care??? It’s actually POLITICIANS against citizens, the party id is used to make the game get attention, adn keep uninformed confused.

        • Darryl Hanson

          azwane,

          Bilderbergers are not backing Romney. They like Newt the insider!!!!

      • Sherrie

        What socialist insite you have Cindy! Earning money, as Dingbat36 discribed is what the Constitution is all about. Did you forget the American Dream that Obama is having great success crushing? This is progressive, Saul Alinsky, destroy free enterprise speak. You are going left at lightening speed! Turn around and head right.

      • Larry B.

        Cindy, please educate yourself about venture capitalism. IT IS YOUR MONEY that makes money!

    • Irma in Massachusetts

      Have any considered that Mitt made money in the PRIVATE SECTOR – unlike, say, Bill Clinton who never even owned a home until AFTER he left the White House. Obviously, several politicians have made millions on the backs of us tax payers. Also to keep in mind, for “millionaires” to pay a 15% tax rate still amounts to substantially more in taxes than a 15% rate on someone earning $100,000 – do the math: 15% of $1,000,000 =$150,000 — 15% of $100,000 = $15,000. Another point to consider is that the 15% rate on investments and dividends is AFTER the initial tax on the funds were at 35%. Translation: the 15% tax on the subsequent investment fund is IN ADDITION to the 35% tax on the initial funds used to make the investment in the first place. I believe that 15% on top of 35% = 40%. It’s time for many to go back to school and learn their ‘rithmatic! (and it wouldn’t hurt to brush up on readin’ and ‘riting! – we use to call it the “3 R’s”)

      • pistolero

        35+15 = 40???? When I went to school, that would add up to 50%!!!! Did I miss something here??

        • JayJay

          Irma, Pistolero tried to give you a dose of your own medicine for sure but he should have deduced that it was been a typo and left it alone. I’m confident that someone with your knowledge of tax on investments knows, and he should have as well, that 35 + 1 5 isn’t 40. You had some very important and valid points to contribute. Obviously, Pisto had nothing of value at all to add, so he demonstrated to the world that he is a first class jerk! Don’t let it get to you! It is fools like he that will put Obama back in the WH for another big dose of his medicine which is destroying the American way of life and leading us to socialism. Educate yourselves folks as Irma has done! Romney is the only candidate who has a fighting chance of being elected President and, thus, putting us in a position to heal and become the greatest nation on earth again.

          • JayJay

            Should have been “was a typo” in above post. I don’t to give Pisto another chance to show his butt!

          • Irma in Massachusetts

            Thanks for bringing it to my attention – I call it “mumbly fingers” – it invaribly happens when emotion is running high and my fingers get stuttering!!!

      • PaulH

        Haha, you’re both wrong on the arithmetic. It’s not appropriate to add 35% + 15%. 35% refers to Romney being taxed on initial income, a PORTION of which was invested. 15% refers to what the investments earned, not the original money invested. As long as he paid what was due under law, he should not be criticized.

        Romney’s position on taxing capital gains income is roughly that the rate should be 0% for people making less than $200,000 and should remain at 15% for people like himself. Investments in stocks are an important part of the economy. They help businesses get the capital they need to expand and create jobs. They are taxed at a lower rate to encourage more people to invest. If you raise that rate, more people will take their money to countries where they are taxed at lower rates.

    • Bruce D.

      It seems like anyone who is not Ron Paul is a Globalist Baankster to Libertarians. For one no one should be paying over 15% in taxes so let’s stop with the envy politics. He pays his taxes and that rate is used to promote business investment so people like yourself can have a job. Romney is a very capable businessman who will make an excellent president.

    • don

      This is a bogus article written by a democrat. The democrats have speakers: gore, clinton, etc. that earn far more money for speaking than Romney. They are also devoid of any spirit of giving to charities. The church Romney donates his money to is a charity. The word Mormon is a book not a church. The Church of Jesus Christ of LDS which Romney belongs to is generally the first group helping areas disaster areas. They sometimes even team up with the Catholic church in their humanitarian aid. All of the congressional insider trading is overwhelming one sided from the democrats. This article was completely debunked by the Rush Limbaugh program on 1-19-12. When the democrats run for office their tax returns, when put out, also indicates that most of them owe back taxes. Most of the democrat leadership have become millionairs while in office from insider trading, which is illegal outside of obama’s government. Feinstein and boxer are also two corrupt democrats from the bankrupting state of California. Notice how just republicans get ripped by phony charges by obama’s corrupt news media while the democrats corruption get covered up and ignored. 15 % is the legal number for paying taxes on investment returns. The democrat run GE company tied to obama and pays no taxes. Normaly the taxes of candidates are released in April, so why is obama’s media demanding it now? The democrats are determined to destroy the reutation of any opposition to get the pretender to the presidency back in for 4 more years to complete the transformation of the country into a third world country ruled by the democratic party.

  • http://tmarcum@yahoo.com Terry Marcum

    When did it become evil in America to be successful and wealthy?

    • Cindy Banks

      Terry, there is nothing wrong with be successful, my daughter has done her own. The problem is how you got there, and how you use it.

      • Gabriel

        “The problem is how you got there, and how you use it.”

        and … While not an invalid point, you fail to attach any connection between that statement and the discussion at hand.

        • azwayne

          I do have a problem with vulture investments. For the most part we cuss wall street, bankers, money handlers. Then the propaganda wants to deflect by calling it capaitalism. Worthy business and capitalism was starting companies, hiring , reinvesting producing something to be sold in the name of America, cars, trucks, ag products, oil, fish, so how is paper handling shuffling, phoney values producing anything??? Let’s use common sense. His venture activities, used government backed, and controlled borderline legal getting taxpayer money to infuse in your bankrupt pension and benefit plans. Using bankruptcy which actually screw investers, to make phony values of companies which you then sell nothing but paper. Sorry I don’t call that capitalism and desireable entrepenuer activities. Don’t let propaganda cloud and confuse you.

          • JDubya

            As I understood it, we really don’t know whether most of the claims about Bain are anywhere near accurate. Vulture investments is not a very well defined thing. However, the use of capital to try to restructure a failing company and to make a profit is not wrong or even questionable. The damages to the people (workers) involved were already going to happen if the company failed. Some kind of pain was going to happen to everyone else involved unless someone did something. Bain Capital, as I understand it, did what was necessary to resolve the immediate crisis and attempted to move these companies forward with a profit both for the company as well as for Bain Capital. Sometimes they succeeded and sometimes not – that’s how it works. The way to tell if there is something wrong is to determine whether the fees charged were exorbitant – but who can tell that? Who gets to decide? If Bain had stayed out of it, what would have happened to those jobs and retirement funds etc? Gone.

            The government bailouts of auto maker Government Motors was more of a scam than anything. This is the first time in history where the unions come out unscathed and part owners of the company, the people who provided the money were scammed (got little of what they had put in) and the government decides what the company builds, never mind that no one will buy them. How many times do you think that people with money will buy into something when they find that the money can be taken away from them by the government even when they are promised to be the first paid? This is what we should be concerned about. Why will people with money risk their money if all that will happen is that it will be taken away from them and used to line the pockets of the government officials?

          • PaulH

            Azwayne, do you realize that the ENTIRE anti-Romney film on Bain Capital has been shown to be false? 2 of the companies were acquired by Bain Capital AFTER Romney LEFT. Two of the people interviewed in the film were actually talking about events that happened when Bain Capital was NOT managing their company. They were outraged that their comments were taken grossly out of context. One of them even said that when Bain Capital took control, everyone got a RAISE, and he got multiple raises when Bain was in charge.

      • Sherrie

        And if you research the facts instead of distorted lies Cindy, you would realize that.

      • Larry B.

        Cindy, please study venture capitalism. YOU HAVE TO PUT YOUR MONEY INTO THE SYSTEM. Not the taxpayers money.

    • Dingbat36

      When the socialist aholes came along and started demonizing anyone who is successful.

      If you notice, Obama thinks a double income (responsible) household which pulls down 250K a year is “rich”. That could be earned by a firefighter and a teacher combined. Mr Creep in the White House thinks people like that who work hard and pay taxes “owe” him more in taxes to support his welfare slugs who sit on the couches in their subsidized housing, drinking and “snorting” or “shooting up” while they take our hard earned tax money in the form of welfare and food stamps and continue to pop out more kids which bring them additional money!!

  • Les

    Income Tax is on what you earn in a given year. It is not a yearly tax on what you have. So it doesn’t matter that his net worth is 200 million. Amazing how the press will distort everything to get people to read the crap they peddle.
    Just a matter of time though for Congress to decide to tax everything you have and making themselves exempt from it at the same time. Welcome to Amerika. Not far now…..

    • Gary

      Exactly! Took the words right out of my mouth. I am also with Dagny. 15% is too much. Even if the rate was 15% across the board, the 15% on his $370k is still much more than the 15% on my $50k. Simple math proves the rich already pay more.

    • Cindy Banks

      Les, I sure would like to have his accountant, to only be taxed at 15%, on the $356,000, on his last years tax return. How did he pull that off. I’ve heard write offs, but this is ridiculous, he is probably writing his utitliy bills, from his mansions, claiming they are business, and every weekend dinner party, is a campaign dinner. And so on, and so on. The whole thing is disgusting.

      • Dingbat36

        The money wasn’t salary you idiot. You need a class on economics, not that you would be able to understand any of it!!

        • Vito D.

          Dingbat, you need to change your name to “SmartCookie”

        • Sherrie

          Exactly Dingbat36!

      • Amy

        Cindy,
        When he earned the money, he paid a higher tax rate on it. The money he invested has already been taxed once when he earned it. The 15% is a second tax on that same money. He invested it and it grew, so it is taxed again.
        Why does “equality before the law” not apply to the tax code? Why is it okay to have different laws for different people based on income?

      • Mike in South Carolina

        Let’s not get carried away. The problem remains which is our government spends too much. They want a divided nation which will fight among themselves over non signiticiant issues.
        Barack Obama is a master manipulator and he loves division among this nation. As long as we focus on who pays what, they continue to spend like drunken sailors.
        Mitt Romney pays enough taxes. He pays taxes on earned income from His investments. Without investments, business and industry would fail. Our current government wants business to fail so they can bail out and take control. The big difference is that in private enterprise business competes on a level playing field, whereas with government involvement Barack gets to pick and chose. Look at all the green energy bullsh#t. Solyndra, GE, ethenol production. They get funding from government and don’t produce anything at a profit. They do return money to Barack’s campaign.
        I am ready for a tax change in America. I would like to see a flat tax on everyone. Everyone should pay something and it is not right to attack the hardest workers who’ve become rich.
        Remember the point here. Barack wants to divide and conquer.

        • Amy

          Is there any chance that you would run for President? We need people who can see past the distractions, and get to the heart of the problems.

        • Sherrie

          WAHOO! Mike knows what he is talking about!

      • Rudy Fendt

        Cindy, Dear, please tell me WHERE in that article it says he paid 15% on that $370K. It doesn’t. And why is his net worth being mentioned? (Could it be that this article is reposted from a British news site??) There’s no means testing on net worth for income tax purposes in USA. If you have $100M in assets, and invest solely in muni bonds (you know, to help build your roads, schools, water treatment plants, etc.), you could make an easy 4 MILLION DOLLARS A YEAR tax free… And have a 0% income tax rate. And that’s FINE BY ME, and it’d be FINE BY YOU too if you were in that situation. Please understand what you’re commenting on BEFORE you comment.

      • azwayne

        You’re touching on the privileges. Today who can afford the bravest attorney and accountant??? Why don’t we have NO privilege, all equal flat tax for every citizen in the US/??? WHO wants that?? Maybe that’s what we need to support and vote for.

        • Agkcrbs

          Good idea there, Azwayne. I’m sure we all realise that Romney, having tapped into the economy in a way we probably wish we could have, has paid many millions of dollars more to the government than we will fork over in our lifetimes — perhaps more than all of us combined. What has the government ever done for Romney in return that it hasn’t also done for the rest of us? In a fair world, the rich would pay much lower tax rates, equivalent to how much is spent on them in return, but the rich would still psychologically tolerate a flat tax. They certainly will not want to be taxed higher than everybody else, just because they’ve made or gained money, and will do everything they can to reduce their rate back to a fair level. Communism has always planted itself with the most charitable intentions (at least toward themselves) of its ignorant, angry, greed-driven supporters, trying to forcefully equalise economic results despite not deserving them.

      • Irma in Massachusetts

        Cindy, dear. Please keep in mind that “Income Tax” is on INCOME from work (W-2 forms get attached to the 1040 tax form). The tax on interest and dividends is actually an additional tax on money that had already been taxed. For example, you work hard and earn money and taxes are taken out, but hopefully you are able to put some in a savings account. If you put enough in a savings account it will earn interest and along comes the government to tax you on that interest. Does it make you a little upset that you already worked hard for that money in the first place and now you get penalized (taxed) for trying to save up for a rainy day???!!!

    • John Burger

      The media needs a basic course in the US Tax Code. Capital Gains, as opposed to “ordinary income” are taxed at a maximum rate of 15%. Newt, while criticizing Romney, wants to lower it to zero, meaning he wants Romney to pay nothing! The cap gains tax is on gains from long term (more than one year held) “capital” investments, not on how much you have invested! Romney isn’t taxed bases on his $200 million net worth estate, but on any gains those investments made. If he loses money, he has no gain and no tax and can carry the loses forward for three years to offset gains in those future years. I guess Mitt needs to more clearly explain this to the media ignoramouses who don’t know the first thing about taxes. If we don’t like it, have Congress change it, right Ron, Rick, and Newt?—, all of whom were in Congress when these laws were in effect.

  • ellen

    Terry,
    When the Fraud and Liar-in-chief was elected!!! That’s when it became evil!

  • Dagny

    Mr. Romney is definitely NOT my candidate, but as far as I’m concerned he’s paying 15% too much. We need to abolish the progressive income tax (the country ran just fine without it until 1913), slash the behemoth that has become our government, and support the greatly reduced body with excises taxes and such, per our founders.

    • Cindy Banks

      Dagny you may not agree with the progressive tax, I agree, but it is the law until it is changed we lived by it, and he is one that IRS should be auditing. In case you missed it I’ll post it again.

      “Les, I sure would like to have his accountant, to only be taxed at 15%, on the $356,000, on his last years tax return. How did he pull that off. I’ve heard write offs, but this is ridiculous, he is probably writing his utitliy bills, from his mansions, claiming they are business, and every weekend dinner party, is a campaign dinner. And so on, and so on. The whole thing is disgusting.”

      • Dingbat36

        Dumb Dora!!

      • JDubya

        One more time, Cindy Banks: Mitt Romney pays taxes on income that is almost exclusively from investments (Capital Gains tax). This money that made the capital gains had been taxed already when it was earned, and the gain from it is taxed at capital gains rates which according to others is 15%. He probably is allowed to deduct the expenses from making this capital gain and if the product from which the gain was derived has been held for over a year then this lower rate applies – otherwise it is regular income tax rates that apply. Also, there are other things that factor in – losses on non-tax deferred income are allowed as deductions at a small portion each year, for example.

        In my case, I am retired. Savings that I had that were not in tax deferred vehicles such as 401k, etc., is taxed similarly, but I lost nearly half of my funds in the downturns of 2008 so the losses of funds that were not in tax-deferred funds are allowed as deductions over a period of years. My tax rate according to Turbo Tax summary is like 6-8% on about 1/4 Romney’s income. But I would be considered in the upper middle class by these imbeciles who have no idea about how the tax code works. (I think a flat tax of some kind is needed.)

  • gary

    This is all fluff…if people vote on fluff, then they are blind to the real problems………..

    Give me freedom…………..don’t care how much money you have
    Enable me to work…………..don’t care how much money you have
    Enable me to purchase my own health care………..don’t care how much money you have
    Let there be Rich people……………….for they supply the millions of jobs.
    And please make our Military the stongest in the World…..don’t care how much money you have

    God helps those who help themselves…may our government follow this same path.

    • Cindy Banks

      Fluff, HELL, obeying the law is what comes first. Having the wealthiest companies in your pocket, not good. Paying only 15% on $356,000.00 is a joke. My daughter and her husband make that much, and their taxes are alot higher than that.

      • Old Faithful Geyser

        Maybe they need to wise up and make some investments that they can take advantage of tax laws.
        I’ll bet you wouldn’t want to pay his acountants bill! it is probably 25% or more of what his tax obligation was. ( and you can bet he doesn’t use H&R Block).
        Besides, where in the hell is it anybody’s business what an individual pays in taxes, if that was to be public information, the IRS would be forced to publish it in the News Papers as a public record, but it is not Public Record Information. So get over it.

      • golferbug

        Where did you get your financial eduction? On 200 million Romney
        paid 15% which is 3million dollars. $3,000,000. You and your
        family will not pay in a lifetime what this man paid in one year.

        Please don’t handle your own finances, get a professional to help,
        because if you do you’re just one more that we will have to help
        on welfare due to lack of acumen.

        • Rudy Fendt

          golferbug, APPLES and ORANGES!!!! Romney doesn’t pay 15% on his NET WORTH (as reported in the story) of $200M. In USA, you do NOT pay “wealth taxes” (other than through inflation) on your assets. And that said, the guy’s supposed to be a super-elite “Richy Rich”. There’s something else going on here, because $200M isn’t “that” wealthy in the 21st century.

        • msbets

          And on top of that THIS IS WHAT HE LEGALLY SHOULD PAY, the rest of you could get out there and bust your butt too, HOWEVER APPARENTLY YOU WANT THE CRETIN IN OUR OVAL OFFICE TO GIVE YOU HAND OUTS, so you can lay around on your couch, drink beer, collect food stamps, get section 8 and let everyone else support you!!PRETTY SOON YOU AND THE THUG WILL RUN OUT OF OTHER PEOPLE’S MONEY!!!! Europe is trying to get out of the baby setting business and try our way, because HAND OUTS HAVE COME TO A SCREECHING HALT, and THIS POS WANTS TO TRY TOTALITARIANISM………………………………….IT WON’T WORK YOU FILTHY P!G!!!!!!!!!!

      • JDubya

        You are talking apples and kumquats – ie, you have no concept of how investment income works. Find out before you continue with this embarrassing display of ignorance.

      • JayJay

        Ditto!

      • Irma in Massachusetts

        Cindy, Cindy, Cindy – I re-submit the following:
        Cindy, dear. Please keep in mind that “Income Tax” is on INCOME from work (W-2 forms get attached to the 1040 tax form). The tax on interest and dividends is actually an additional tax on money that had already been taxed. For example, you work hard and earn money and taxes are taken out, but hopefully you are able to put some in a savings account. If you put enough in a savings account it will earn interest and along comes the government to tax you on that interest. Does it make you a little upset that you already worked hard for that money in the first place and now you get penalized (taxed) for trying to save up for a rainy day???!!!

    • Sherrie

      And who talks the talk and walks the walk? MITT ROMNEY! Thanks Gary!

  • Dale

    It appears that a vast majority of americans agree that the current tax system is unfair and seriously flawed. Instead of just complaining, that majority needs to get familiar with the “Fair Tax” proposal and support it. Urge your Representatives to support it and “get it done.”

    • JDubya

      Right on, Dale – not sure the tax system is flawed, however, but it sure is confusing. The bad things that happen occur because someone tried to correct some perceived deficiency or inequity which then had consequences (intended or otherwise) when corrected. The more simple the tax code can be made the less likely someone will be able to hide from it. But don’t kid yourself, there will be some pretty painful situations that develop if a flat tax or fair tax is implemented.

  • http://Q@A mary H

    never was fair never will change. Just the way it is Who makes the laws? The gov. Who will change it? The fat cats in Washington? Don:t think so for a min. They are not going to give up their money for any of usto benefit. We need a good ole gov. take over. Lol what?s the chnce of that

    • Vito D.

      Then you go out and invest your money in business and take the chances of losing it all … IDIOT! Obama is doing one hell of a job dumbing people down!

  • Yardman

    I was about to “OPT OUT” of Cowbotbyte when I saw the header. Dear God, friends, there is nothing wrong with earning money!! Are you agreeing with the welfare dems and Occupiers that money is evil (except when it’s used to give them free food, rent, utilities, etc.

    Maybe the author is so ignorant he doesn’t realize how taxes work. The money Romney is paying 15% on is from investments. HE ALREADY PAID 35%+ ON THAT MONEY. IT’S CALLED “DOUBLE TAXATION”.

    We’re all conservatives here, Wise UP!

  • Anne Starr

    Romney is NOT my candidate of choice, but stop with the tax whipping!!! 15% of 2 million is still a bundle!! Whoever wrote this article sounds like one of the OWS Gang! When is enough “enough”? Is there one amongst us that doesn’t try to LOWER our income tax percentage? I don’t know about you, but my mission in life is not to see how much I can pay in taxes!! Our current, stupid tax laws are what makes a discussion like this even viable! If we had the Fair Tax, no one would be asking anyone to see their tax return. As long as Mitt is abiding by the law, who the heck cares what percentage he pays? The lower, the better!!! That’s my motto!

    • Cindy Banks

      Right “as long as Mitt is obeying the law”, the tax rate in 2010, was 33%, my heavens how much did he write off?

      • Vito D.

        Yeah, but the “CAPITAL GAINS TAX” was also 15%. This is where the majority of his income comes from. His money is made the same way as Warren Buffet, the only difference is he doesn’t have his head up Obama’s ass.

      • Sherrie

        Cindy, reign in your skepticism and read Mikes statement again. Your are to eager to dam Romney as a cheat and a liar. He is not. He is a prime example of what this Country can be. SUCCESSFUL Realize he is on your side, successful Cindy is successful USA!

    • Old Faithful Geyser

      I think it was Will Rogers that said that the “Income Tax Laws made Liars out of more people” than anything that ever been done before.

  • amyrfisher@verizon.net

    I think this guy knows how to make money for the country. Look at the record of success. Also if he works for the same salary $1.00 he got in Massachusetts that will save us a little money. I am also thinking he will pay for his own travel and won’t be golfing. Sounds like a great deal to me.

    • Cindy Banks

      Amy he does speaking engagements and made $356,000. in his latest tax return.

      • Amy

        You don’t seem to understand. His earned income is taxed at a higher rate. His capital gains are taxed at the lower rate, just like everyone else who has investment income. He has way more investment income than earned income which brings his AVERAGE rate down.
        No matter what his rate is, he is paying way more in taxes than you and I are. Would you like to see the government take all the money the wealthy people make?

      • Sherrie

        And, your calling that bad? How much does Laura Ingraham, Sarah Palin, Mike Huckabee, Chris Matthews, etc make for speaking? Lots of money. Have we seen Sarahs tax returns? Shes not making chump change.

      • Irma in Massachusetts

        Cindy! Did you bother to check that Mitt DONATES moocho bucks to charity (like all proceeds from his book, for example). It is highly probable that he gives a heck of a lot more to charity than Senator John F. Kerry – Democrat, MA – who “made his money the old fashioned way, he married it” whose worth with Theresa is over two BILLION dollars (Mitt’s worth is LESS than one billion) and Kerry even tried to reduce his tax liability on his new million-dollar yacht by registering it in Rhode Island instead of MA, the cheap s.o.b. Charities are a hell of lot more grateful for donations than the government, and can more efficiently allocate the funds.

  • old ben

    FLAT TAX IS THE ANSWER I DON;T CARE IF YOU MAKE A MILLION OR IF YOU MAKE 10.000 IF YOU PAY A FLAT TAX THEN WE ALL PAY THE SAME. DON;T SLAM A MAN FOR BEING SMART ENOUGH TO MAKE MONEY THYEY ARE THE ONES THAT MAKE JOBS FOR ALL OF US. I NEVER DID GET A JOB FROM A POOR MAN, COME ON FAIR IS FAIR AND A FLAT TAX IS THE ANSWER

  • Stephen

    The law states you pay 15% on INVESTMENTS. If the tax were higher, there would be far less investing in American Industries which create jobs. He would pay a higher income tax on his INCOME, but if he doesn’t need the income he can find ways to give it away and reduce his income, thus getting taxed less on that amount.

    King Obamirs buddies in the labor unions know that Romney can be painted as a rich person in America by launching a campaign of rich vs. poor and proclaiming that rich is bad. Can you say, Occupy Wall Street? Gosh, rich MUST be bad. Those OWS protesters are pawns and fools to believe in something they do not have a clue about. They are all being used for a political game.

    I work very hard in the business I started 26 years ago. I am not a “rich” person financially, but I am content in the fact knowing that I EARNED every penny. The only thing I should be entitled to is to be less taxed by a government that doesn’t respect me. I would, of course, support a government that encourages hard work and entrepreneurship instead of getting in the way most of the time. If King Obamir would have got in my face like Joe the Plumber, I would have told him what I truly think, “Tell those people who WON’T work, that their choices of income are NOT MY PROBLEM and you can go to hell”.

  • AliveStillKickin

    He beat around the bush and did not want to release this information.
    Therefore it appears he has something to hide.
    I don’t trust this slick (Honest Abe) used car salesman….He hides things…just like Obama

    • Vito D.

      That’s right! Nobody is entitled to be suucessful or turn a profit anymore without being branded as EVIL or GREEDY … even when you follow every letter of the law!

      • AliveStillKickin

        I’ll bet you voted for Obama…..Vito D.
        Don’t be stupid twice.

        • Vito D.

          I, unlike you, couldn’t be bought to vote and I wouldn’t vote for Obama even if he were the only person running. It is obvious you know NOTHING about tax law, you never invested (that’s taking risks with your own money in case you didn’t know) or economics. Don’t act like you know what you’re talking about because you’re showing folks what an obvious idiot you are. Are you OWS or just another Odumbass drone? You are proof that the dumbing down of America is in full force and working!

          • AliveStillKickin

            I said that it appears he is hiding something….and I stand by that comment.
            I said nothing about 15%
            This is not an honest man…..this is Slick Willy in a GOP suit.

        • Stan Lee

          Hey Alive:
          Maryland is the bastion of the Democrat Party! It pays to advertise, Terrapin. I hope your whole state smartens up.

          • JayJay

            Alive, it is doubtful that anything Romney might be hiding about his taxes could affect our country as negatively as all the things Bama is hiding. Educate yourself about investment income. It is legal. I’m sure Romney will release his tax info in a timely manner which has historically been in April or May before the November of election year. Don’t sweat it but you should be sweating what is happening under the dictator, Obama. He is the usurper!

    • Sherrie

      ROMNEYS financial information is extensive. Some is public already public knowlege. His , Newts, Santorums, Perrys info is not due til April. Newt is desperate, He is pulling all the dirty tricks he can to claw his way into the candidacy. Try watching him outside of the debates. He is arrogant, vindictive, hubris, all over the place with his statements. (and if you paid attention always has been.)Do you really think this is the man you want to look at every day on the news? I case see him broadcasting his arrogance from the Mediterranean on the Cruise Ship ,Luxury USA telling us, having fun, wish you were here with Collista and me. Very much like 17 day in Hawaii.

      • JDubya

        No Sherrie, he is direct and minces no words.

      • Old Faithful Geyser

        Sherrie’
        YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    • Stan Lee

      How about “He’d like to be entirely accurate before he broadcasts a number, because he knows guys like you are just frothing at the mouth to find him in a mistake?”
      You don’t trust the man, anyway. Your “beef” won’t change no matter what he proves.

    • Irma in Massachusetts

      Lefties just want to be nosey. If Mitt were hiding anything, it would have been outed before now – remember, he’s already been “vetted” through his previous runs both as governor and senator.

  • maryannmoon

    Flat tax may fly.. but I think maybe the tax on goods we purchase is better.. exempt food and medicine.. and tax everything else same for everybody.. reminds me of the luxury tax we used to collect during world war 2. Those whose standard of living is expensive, can well afford the tax.. Those of us who purchase very little would pay very little tax.. and you are in control of what you spend.. at least, I hope you are.

  • Hubcap

    Guess it takes a few months to alter the paperwork and do a new set of books to cover his tracks. I believe its because he didn’t tithe the right amount to the Mormon Church.
    This is a man of dual minds and he speaks with a fork tongue. Another liar like Nobama.

    • Sherrie

      Hubcap, your an idiot. No Republican gets away with not having their taxes in perfect order and correct. Check statements of Hannity or OReilly. Only Dems get away with tax fraud.

    • Stan Lee

      OK, Hubcap, name me one Republican Secretary of Treasury ever cited for failure to not only not pay his tax on time, but to be discovered as not paying his tax (period!)
      Only one name comes to mind, and I’m at an age where I served in the Korean War..That means I’ve been around a long time. That tax-cheat would be Timmy Geithner, Democrat! ‘You have any names?
      All I want is the facts, bubbah!

    • Old Faithful Geyser

      Hubcap is just covering his nuts because he thinks he’s a big wheel.

  • Vito D.

    So what if he only pays 15%! He is paying the MAXIMUM tax required by law. He receives the major portion of his income from “CAPITAL GAINS”, not a salary or income from a regular job. His money comes from interest and dividends from taking the RISKS of investing. When you invest … you are taking all the risks of making money (God forbid!) or LOSING money. QUIT DEMONIZING PEOPLE FOR ACTUALLY BEING SUCCESSFUL AND TAKING THE CHANCES TO IMPROVE OUR COUNTRY!!!

  • Jack

    I’m astounded that Republicans are joining the Occupy Movement by being critical of those who make money and pay the legal amount of taxes required by law. Without the 1% the 99 would be living like people in a Third World country. I get nervous when Gingrich says he wants to make business more “fair.” Clearly he is borrowing from the lexicon of the left and promoting big government solutions to the woes of the world.

    • azwayne

      I’m guessing a lot more of us need to be Republicans NO LONGER. It appears if you like fairness, reasonable pay for production, principles and morals, honesty, we can’t be Republican. I think this year more and more will recognize and start to do something about that. A profession of investing others money, using legal borderline actions to phoney up worth on a balance sheet and sell the eyewash is not honest capialism in my opinion. The propaganda using terms “conservatism”, “Liberals”, dems, repubs, independents has done nothing but confuse the country into total confusion and being lead like sheeple. So the corrupt government, with politicians controls and robs taxpayers forever.

      • Sherrie

        Sounds like your already a Democrat azwayne. Buying into the class warfare spread by Obama. Romney has the skills to understand numbers you are I do not. He has paid millions in taxes over the years that go to provide the building of Road, Freeways, pay for food stamps, Unemployment benefits, cash for cars, etc. that the general public has benefited from as have his partners. So you want him to live is a shanty in your backyard, wear rags, continue to work and make money just to pay it into the Federal tax system so Obama can live like royalty. Is that Freedom? Free enterprize? I think not.

      • Stan Lee

        Since the present federal government power structure does not represent itself as Capitalist or Constitutional, what can you tell us it is?
        I understand your distrust of it, but what is its theology?
        Please, no “bumper sticker” stuff like “sheeple.” Substance will be appreciated.

  • http://www.steinbergblog.com Larry Steinberg

    Are we really going to be upset somebody who is wealthy is smart enough to limit his tax liabilities legally? This is why I can’t be a Republican. Too many hypocrites.

    • Stephen

      Confused dude!

    • Stan Lee

      Larry:
      Given you can’t be a Republican, do you vote at all? I hope you aren’t implying that Democrats aren’t full of hypocrisy. Even if you, possibly a “thinking man” aren’t a member of any Party, I hope you’ll vote to rid our government of its patent liars, the most flagrant being Obama.

  • WillyT

    I wonder if Oprah has paid 150 million in taxes on her 1 billion personal worth?

    • Stephen

      She paid her tax lawyers more than that!

    • Stan Lee

      Oprah has been a major contributor to Obama and Democrat Party. Most likely, her battery of Accontants and Attorneys make sure her tax returns are legitimate. Her worth is ascertained by her fan base of which I, personally, am not a member of such base.

  • Ralph

    However, do not forget how Bain Capital Vulture Capitalist lying ruthless soul-less greedy arrogant “Business man” RINO Willard Mitt Romney made his $250 Million Dollars by Romney
    Outsourcing American Jobs Overseas and by Destroying Small American businesses too here.
    Google and Watch the Video, “When Mitt Romney Came To Town” to learn the nasty truth
    about Greedy Arrogant Ruthless Job Destroyer Willard Mitt Romney folks.

    • Sherrie

      RALPH! None of the 1000s of companies concieve and grown in the US are to stupid to limit their groth to the US. Right now, to survive, many Companies are funding their US enterprizes with gains in other Countries. Otherwise, the choking restirictions set up by the Obama admin. would have ended their business! If you are working, you may be being paid from the profits and work of people in India!

    • Stan Lee

      ‘Sounds like you have something against Mr. Romney. What did he ever do to you, except to earn more money than you have earned?
      If you favor another candidate, why not say so? You can’t sell Chevies by knocking Fords!

    • Old Faithful Geyser

      Ralph, so you like Rmnoey enough to vote for him? or could you be a little more revealing?
      It took Romney a lifetime of hard work to amass a fortune as large as he has, but can you tell me how Obama has amassed his forutne. After-all, re was born a BASTARD to a white, roundheeled mother that had an afinity for black men, well before it was fashionable. I don’t think she inherited must of a fortune from either her parents or any of the Black Socialist she laid down with. Yet, the Obamas seem to be very well off even though they both gave up their law license and in Chicago, you must be a very corrupt individual indeed to lose your law license.
      So, tell me, just where in the hell did the Obamas get their money, when you know that Barak Obama has never held a Job?
      You hypocrites are quick to criticize a good Republican but give a Liberal Democrat a free pass. Typical class warfare.

  • Denim

    So everyone is so hellbent on getting rid of Obama that they’ll vote for anyone else running? Mitt was the guy from the beginning. The others GOP establishment boys are nothing more than “strawmen” whose job is to cut out any possibility of Ron having a chance. I wish we could all vote “no of thee above” and cause a new election with new candidates (don’t really care if we’re Presidentless during that time).

    I don’t believe for one minute that Mitt will cancel out–with any significance–that what Obama and Bush have put into place. Once again, the Republicans and Democrats are nothing more than left and right oars and the same boat.

    • Stan Lee

      We have to “kick” the conspiracy theories sometime. As Americans, we’ve become very paranoid and the leftist media has played a big part in that.
      They’ve been playing us for suckers and pitting us against each other. They work for guys like Soros and Obama, who hate America and what it has stood for.
      “Divided we fall” brother!

    • Sherrie

      Denim, you are dead WRONG!

  • Stan Lee

    I expected Mitt Romney to be paying about 15% Federal tax, that comes as no surprise.
    The richest guy in Washington, DC is Senator Kerry, a multi-billionaire by way of marriage to Teresa Heinz-Kerry, heir to the Heinz fortune. His income tax return showed 12% Federal tax paid. If you resent this, kindly realize that 15% of Romney’s taxable income is a heck of a lot higher than most of us pay….and it’s all legal!
    If I’m not financially as wise as Mr. Romney or any of the others, that’s not their fault, it’s mine. Just as long as they earn their incomes honestly. The mere fact that they earn high amounts does not imply dishonesty.

  • Delores Smith

    AMERICANS,
    Get your acts together. It is possible to pay 15% tax, because you don’t pay taxes on your personal forturne. You pay it on earnings, and there are deductions allowed in the tax code. MITT ROMNEY’S WIFE has had cancer, and she now has multiple sclerosis. That costs money and PAIN. I took care of my husband with Parkinson’s at home. He needed a feeding tube and a Hoyer Lift, because he could not swallow, nor was he able to walk. I wanted him to be at home, and he wanted to be there. My main point is this: MITT ROMNEY is the only candidate to defeat LIAR OBAMA. Vote for anyone else, and you are stuck with Obama and Soroa, Hitlerizing America.
    Delores Smith
    Delores109@cox.net

    • Stan Lee

      Delores:
      Thank you for bringing sense into the issue. It is often too easy to condemn those of us who earn grand incomes. Little do we know what their actual activities and responsibilities have been. I’ll tell you one thing; No poor man ever gave me a job!
      May God bless you for caring for your husband the way you have.
      We need to see Obama & Co. gone and that means electing a qualified candidate, plus electing Republican majorities in both Senate and House.
      Let’s not forget that, this is not only about the office of President.

      • Old Faithful Geyser

        I agree with what you say here Stan, plus I would like to say that 15% of something ,sure beats hell out of 100% of nothing. Most of the people that are complaining about Romney paying ONLY 15% are probably paying NOTHING.

  • Daylo

    Actually. Romney said he paid “around 15%”. Now, he is very tricky with his words, and he is being reported as saying “15%”. Folks, “around 15%” is not the exact same as “15%.

    He needs to release his records and let the people he wants to vote for him see if he is “almost electable” or “electable”.

    • Sherrie

      Folky Daylo, save your sarcasm for the day Romneys taxes are released. All the good done from his labor all over the world and in the USA from taxes paid and charity give dwarfs you hate speech about Romneys taxes. Poor people, middle income people are not able to give in the way wealthy people can. We give as much as we can. Bain Capital and Romneys partners, as Bill Gates, Bono, etc have all done great good in this Country and the world. Clean your glasses and get the right prospective. I think youll find Romney has dispersed more cash to worthy causes that all the other Candidates combined.

    • Stan Lee

      He was talking about Staples and other stateside, successful, businesses that have grown well. If I had a copy of his words, I’d be able to quote the names of other businesses he mentioned. Did you hear their names?
      He wasn’t talking about any overseas businesses and the 100000-120000 jobs were all with Staples, a sampling of only one businesses of many that succeeded.

    • Stan Lee

      How about 14.6 % or 15.125%? Does that do it for you? ‘Ever hear of “Doubting Thomas?” Check it out…see where it comes from.

    • Old Faithful Geyser

      What the F–k business is of yours, you dumbass socialist, he doesn’t need to release anything to you or anybody else, all he has do release is his financial statements showing if he has a conflict of interest with holding office.

  • Daylo

    Romney said he created 100,000 to 120,000 jobs. BUT, he didn’t tell you in which country he created those jobs.

    Be careful. Words really do mean something and the lack of words really, really do mean something.

    • Sherrie

      So what? Any business, expecially under OBamas crippling rules, has to go off shore to stay in business. You are so eager to blame but have no concept of how big business and Corporations work. Over regulating Labor Unions are crushing States and businesses. Get them and Obama to back off and be reasonable and we will prosper. Otherwise, 2 will have a job and 10 will be laid off.

      • Stan Lee

        Unfortunately, the USA has the 2nd highest corporate tax in this world.
        Businesses aren’t created to gather vitamin D, they intend to be profitable and unlike a few, they do not incorporate depending on gov’t bailouts if they fail.
        If we had a business-friendly tax structure, we’d be back to manufacturing and business home offices stateside. Actually, that would generate more tax dollars too, but the Democrats don’t understand business…only taxing.

  • rancher

    Romney has already paid taxes on the ‘saved’ money he has. He pay taxes on investments, capitol gains…. so what is the problem with you all. Is it that you don’t have 200m in equity. Bashing him is not going to get YOU any more $$$$. That approach is just pathetic.

  • Darryl Hanson

    I wish we could all make the money Mitt made. I’d even pay 17% on top of the capital gains tax, Te Hee

  • Old Faithful Geyser

    I’ rather have a good smart, sucessful businessman, that has expereience and a proven track record of accomplishments and has mad himself a small fortune, than a teleprompter reading, slimeball, community organizing, rebel rouser with NO EXPERIENCE and a chip on his shoulder that thinks he knows better then everybody, for my President.
    Besides, has anyone ever heard of “Community Organizer” before Barak Obama ran for office?
    I haven’t, and I think this is just a descriptive word made up to make it appear that this Jerk-off had some form of job.

  • Bimbam

    Why do you think I call him Mitt Robme?

    Rush got it right, stupid Repudicans are SO SCARED OF BEING labeled a racist that they missed an opportunity to get back at the negro and the liberals.

    He should of said; Show me oBUMya’s college transcripts and then said, how come nobody in college remembered him? Show us your REAL birth certificate and I’ll show you my tax return, what is this about Conneticut SS number you have that is not legit Mr. oBUMya?

    THIS WAS a perfect time to NAIL THE NEGRO!!!!

    Mitt ROBME is NOT THE GUY, he shows that he will kowtow to the liberals and is scared of the negro.

  • Jacqueline L

    So he is rich – as is every other candidate on both sides of the aisle. Would you rather have someone who is already rich before election or a politician who becomes rich, or richer, after getting into office.
    If I say taking my family to dinner at Chilis isn’t much- to the folks waiting at the Food Kitchen I may seem ‘disconnected’ while the First Lady drops thousands on a “snack” that includes lobster and wine seems very disconnected to me.
    It is a matter of proportion and perspective.

    • JoJo

      I agree. I would also say that the first lady should know better, but she does. She’s an angry woman that feels she’s entitled. If Laura Bush did something like this, she would have been villified by the media…of course we wouldn’t have to worry about that, Laura Bush had CLASS and would never do something so outlandish. As long as the Obama’s live in the White House, they will continue to golf, vacation, throw lavish parties while the US falls apart. It’s their GOAL.

  • ellen

    Is it REALLY anyone’s business??? Investigate what the dirtbags in the white house are doing!

  • john whittington

    What he’s paying taxes on is the interest of money he’s already earned!!! Would you like to be rich only to have the Socialist’s try to take it away from you?

  • Bill

    If the liberals complaining about Romney’s income paid as much as HE does in income taxes, we wouldn’t need tax increases. These complainers should go out and get their own money the “old” way – earn it! Instead, they “occupy” places, persons and things demanding a share of someone else’s hard-earned money. A pox on the entitlement generation!

  • Greg

    Daylo, exactly what do
    you pay in taxes? Did you really know the % before you just looked it up? Romney knows he paid $30MM plus and continues to roll on as a true biz/investment success. His $30MM is a lot more than the 50% of the slugs that pay nothing and stand around with their hands out.

  • JoJo

    So WHAT???? The murderer Ted Kennedy had even more money than Romney on the Caymen Islands ( I believe it was around 300 million) and paid approximately $100,000 in taxes. The democrats like to scream about those rich republicans, but 7 out of the top 10 rich people in congress are democrats…Kerry registered his boat out of state to avoid paying MA taxes. The only thing keeping them relevent is the media that turns a blind eye and even supports these morons. But what can you about a party that says that they don’t run on a platform of moral standards so they shouldn’t be called on racketeering, sexting, stealing, insider trading, voter fraud, etc. Amazing group, eh?

  • Hubcap

    http://dailycaller.com/2012/01/18/opposition-file-on-romney-hits-the-internet-likely-from-2008-mccain-campaign/
    Massive opposition research file on Romney hits Internet
    By David Martosko 01/18/2012

    If you think you’ve already heard everything there is to know about Mitt Romney, think again. A 200-page document that appears to be Sen. John McCain’s entire 2008 election-year opposition research file on the former Massachusetts governor hit the Internet with a vengeance Tuesday evening. And it’s an eye-opener.

    http://cdn2.dailycaller.com/2012/01/McCain-2008-Oppo-File-on-Romney.pdf

    The file explores everything from the assessed value of Romney’s house (“$3.162 million”) to his views on the Boy Scouts’ ban of homosexuals (“publicly opposed … in 1994 and 2002 campaigns”). It was made public Tuesday on the social media website Buzzfeed, although it appears to have been accessible online for two months.

    The document, given the name “The Romney Book,” was viewed less than 100 times on the page where it was originally uploaded by its anonymous leaker on November 11.

    Neither McCain nor his former presidential campaign staffers have authenticated the untitled document, and McCain’s recent endorsement of Romney makes that highly unlikely. Still, the file is comprehensive enough — even by Washington, D.C. Opposition-research standards — to suggest that it was assembled as a tool to counter a Romney candidacy on a national scale. And the news articles it references stop late in 2007.

    After a four-page introduction and timeline of Romney’s personal and professional life, the file’s next six pages cover what the authors called “top hits.” The last six pages are an appendix describing a “Boston Video Archive.”

    The biggest portion consists of a detailed and heavily sourced exploration of Romney’s evolving positions on social issues (22 pages), economic issues (21 pages) and domestic policy (48 pages).

    A 33-page section details his business record at Bain Capital, and 16 pages cover political issues that the authors believed can be exploited against Romney.

    Read the Romney file:

    The Romney Book

    The extensive research on Romney’s business history includes many snippets and quotations from news stories that are no longer available online or have disappeared behind newspaper paywalls, making the file a likely gold mine for Romney’s political rivals this year.

    For instance, a 1991 Boston Globe article explored how Bain “cultivated a mystique around the secretive firm, which was once dubbed ‘the KGB of consulting.’ Partners didn’t carry business cards and referred to clients by code names. … And it inculcated in the recruits such a sense of mission that young consultants became known as Bainies, a reference to the Unification Church’s Moonies.”

    Citing a 1994 Globe article, the file concludes that “Romney used Drexel Burnham junk bonds to finance [a] 1988 leveraged buyout, right around the time SEC [Securities and Exchange Commission] officials were taking formal action against the company.”

    In a followup article cited in the file, the Globe reported that Romney and another Bain Capital partner “defended their decision to hire Drexel before the SEC suit — at a time when rumors of the investigation were rife on Wall Street — as well as after the suit was filed.”

    The dossier also explores the history of Bain’s business transactions related to Ampad, Maytag, Haier Group, and seven other companies that were subjects of Bain takeovers.

    Read more: http://dailycaller.com/2012/01/18/opposition-file-on-romney-hits-the-internet-likely-from-2008-mccain-campaign/#ixzz1jutwpqVT