Words like "daaaaaammmmmnnnnnn" come to mind!
GOP presidential candidate Mitt Romney has released his tax returns, and yeah - the guy (and his wife) made $21.7 million in 2010 and $21 million in 2011!
As far as taxes are concerned, they paid $3 million back to the government in '10, and they paid $3.2 million in federal taxes in '11.
Over those two years, Romney's tax rate was slightly under 14%, which is still higher than many Americans…but still pret-ty damn low given how much $$$ he's making!
And why is his tax rate so low?
"…His income was derived almost entirely from capital gains and dividends from his extensive portfolio of investments. And that form of investment income is typically taxed at just 15%, well below the 35% top tax rate for high earners."
"He had extensive itemized deductions, which lowered his overall tax liability."
As far as Romney's charitable givings are concerned, he gave away over $7 million over the past two years, which includes $4.1 mill that went to the Church of Jesus Christ of Latter-day Saints.
What do U think about all this info on Romney's taxes? Is UR tax rate higher than Mitt's???
[Image via WENN.]
Tags: chruch of jesus christ of latter day saints, federal taxes, investments, mitt romney, tax, tax rate, tax return, taxes