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. Just like the Empty Suit, except he made a lot of money from a book he didn't write.
Don't forget Bambi's Senate salary for a job he didn't do...
Instead, Romney and his wife, Ann, collected millions in capital gains from a profusion of investments, as well as stock dividends and interest payments.
They made their money the old-fashioned way - they earned it.
The couple gave away $7 million in charitable contributions over the past two years, including at least $4.1 million to the Church of Jesus Christ of Latter-day Saints. Romney's family has for generations been among the Mormon Church's most prominent members.
We not going to compare this number to others, probably because it would make Mitt look generous.
The Romneys sent somewhat less to Washington over that period, paying an estimated $6.2 million in federal income taxes. According to his 2010 return, Romney paid about $3 million to the IRS, for an effective tax rate of 13.9 percent.
For 2011, Romney estimates that he will pay about $3.2 million, for an effective rate of 15.4 percent. That's in line with his earlier estimates, but sharply lower than the rates paid by President Obama and Romney's closest Republican rival, Newt Gingrich.
Real men give their money to the state for redistribution!
Just like Warren Buffett. Oh, wait...
The Romney campaign planned to publicly release the tax documents Tuesday morning but gave a preview late Monday night to The Washington Post.
And this is how the WaPo repays him for the favor?
It could have been worse...
In recent days, Romney's GOP rivals have pressed him to make his returns public, arguing that it is critical for the public to vet his finances before the party settles on its nominee. The revelation that Romney pays a significantly lower tax rate than most wealthy Americans underscores his image as a multimillionaire financier, an image that some Republicans believe would hurt his chances in the general election.Real men give their money to the state for redistribution!
Economic inequality is emerging as a central theme in the battle for the White House, with Obama trying to harness populist anger at Wall Street and corporations against a backdrop of chronically high unemployment. He plans to call for higher taxes on millionaires in his State of the Union address to Congress on Tuesday night, embracing an idea advanced by billionaire investor Warren Buffett and Occupy Wall Street protesters.
Real men give their money to the state for redistribution!
If Mr. Buffett wants to pay higher taxes, he can start by having his company drop its suit against the IRS over back taxes...
"The president believes that it is not fair -- inherently not fair -- that those who are millionaires and billionaires pay at a lower rate than average Americans who
Real men give their money to the state for redistribution!