Switch to the mobile version of this page.

Arkansas Times

Arkansas Blog

« State issue rules on religion in pu… | West Memphis 3 documentary is Oscar… »

Tuesday, January 24, 2012

Taxes / Presidential politics Mitt Romney's tax rate: 13.9 percent

Posted by Max Brantley on Tue, Jan 24, 2012 at 6:32 AM

Mitt Romney released a couple of years of tax returns last night.

He's rich. He gives a lot of money to the Mormon church. His income tax rate on his $21 million in income in 2010 was 13.9 percent. (Over two years, he paid $6.2 million in taxes on $45.2 million income.) He's a great beneficiary of the Republican tax policy of taxing work not wealth. Dividends and capital gains get a preferential low tax rate. (And it really has boosted the economy, hasn't it?) If you get most of your income from work, your rate is a good deal higher.

Take a look at your own tax return some time and divide your gross income by your federal tax bill and see if you pay more, proportionately, than Mitt Romney. The harder you work and the less you make, the more likely it is that you do. (I was at 23 percent last year.)

More here from the New York Times. His holdings have included money in Switzerland, Bermuda and the Cayman Islands.

My instant take is that this isn't much of an issue for Romney in the Republican primary. He's always been rich. And unlikable to the majority of Republican primary voters.

Tags: Mitt Romney, income taxes

        
Tweet
Share

Speaking of Mitt Romney, income Taxes

Open line Monday

April 1, 2013

by Max Brantley

It's your turn. Closing out with Grover Norquist, pipeline peril for Lake Maumelle and the growing list of lawsuits to be spawned by this legislature. /more/
More »

Comments (33)

Showing 1-33 of 33

Add a comment

Subscribe to this thread:

By Email

With RSS

Showing 1-33 of 33

More by Max Brantley

UPDATE: City director alleges taco truck harassment

My attention was called to the waning minutes of the Little Rock Board of Directors meeting Tuesday, when Director Ken Richardson took the mike to ask for a reminder for the board about a policy directive concerning contact by directors and city departments.
- by Max Brantley
- Mar 22, 2013
UPDATE: The House defeats Medicaid expansion appropriation

I'm led to expect a test vote — maybe THE vote — will be held early in today's House session at 1:30 p.m. today on the appropriation bill to pay for expanding Medicaid-financed health coverage in Arkansas.
- by Max Brantley
- Apr 15, 2013
More »