From the Washington Post:
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.
…
For 2011, Romney estimates that he will pay about $3.2 million, for an effective rate of 15.4 percent.
Is it a bad thing that Romney is rich? Well, I don’t think it makes it easier for him to relate to the 99%, but it’s not a bad thing that the man is wealthy. It is a bad thing that it’s legal for him to make money destroying productive enterprise and it is a bad thing that he pays a lower tax rate for making his money as a capitalist rather than someone who engages in free enterprise or directly from his own labor.
According to Bloomberg, Mr. Romney only paid 13.9% in taxes in 2010.
Tags: gop primary
