Romney Says He Pays About 15% In Income Tax

Mitt Romney says he will release his tax returns in April and they will show he pays close to 15 percent of his income in taxes.

The multimillionaire Romney has been under pressure from his rivals for the Republican presidential nomination and others to release the information.

Speaking to reporters Tuesday in South Carolina, Romney said most of his income comes from investments, not regular wages and salary. The tax rate on investment income is 15 percent, much lower than the 35 percent rate applied to wages for those in the highest tax bracket.

He suggested he would release only one year of tax information, for 2011.

Romney had initially said he would not release the tax returns.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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  • by Tom on Jan 24, 2012 at 05:43 PM
    im a republican but i think im going to have to vote for obama, all the ones running in the republican party are crooks, they all are millionares thats what wrong with our country today the rich get richer and the poor poorer, we need the working man to run for president
  • by Anonymous on Jan 23, 2012 at 08:41 AM
    Romney paid 15% on his CAPITAL GAINS but he had to pay much higher taxes when he first made the funds to invest in the stocks... more like 45% for his income bracket. So his true tax rate is 60%. Think about it, you earn money and pay normal income taxes on it. You then take that money and invest in the market where you pay 15% on your earnings. The money originally came from normal income.
  • by Anonymous on Jan 22, 2012 at 05:50 AM
    15 % is way to much to pay... if God wants 10% the government is no better... still waiting for Obama to release his along with his college transcipts... but he doesnt have to because of his color
    • reply
      by J on Jan 22, 2012 at 11:31 AM in reply to
      Obama and Biden both have released their tax returns. In fact you can view their entire tax returns here: Would it hurt you to do a little research before you speak? Typical Fox news watcher!
      • reply
        by Obama Snake Oil Co on Jan 23, 2012 at 06:23 AM in reply to J
        You better hurry, koolaid is buy one get one free at the pig so they are going as fast as Obama is in 2012!
  • by T Maxx Location: G-vegas on Jan 21, 2012 at 11:15 PM
    Lavon I see you are still drinking the koolade. Another history lesson for Lavon. democrats started segregation,poll taxes and the KKK. Let's not forgot the welfare programs was started by democrats. Which folks like you Lavon jump all over that. President LBJ stated in the 60's he would make a plan that blacks would be voting democarts for the next 200 years and his plan is still working today. So people like yourself Lavon keep voting for democrats and remain on their plantation. Lavon you dont know any better, still depending on that government hand out like so many.lavon one day these government hand outs will run out and you will be complainting where is my money. So if you want to be control by the government and remain on the payroll. Keep doing what you are doing. Lavon you may wake up one day but it maybe to late. Lavon why dont you do a some rearch on the party you love so much,it may open your eyes to the true.But like so many the true is hard to swollen when it right in front of you.By the way since the democrats doen so much for blacks. Why, so many of us are in the same situation. Only a few have left the plantation and standing on our won two feet. Riddle me this Lavon.
  • by Daniel on Jan 21, 2012 at 08:19 AM
    Reading these posts only confirms several things for me. This country is poorer, more divided than ever, racism is more prominant, and crime is skyrocketing. The trend has been happening for quite awhile now but never as quickly and as dramatically as it has in the past 3 years. Obama, as commander-in-chief, has done more for this country than any other. Less jobs, more walefare = government dependance and the lowest moral in years. Obama's plan has worked just fine for him but for me and mine...we are suffering. We have gone backwards under the obama administration. This election may well come down to not who's best for the country but who will do the least damage. Obama can not run on his own merits because he will lose so he will run by discrediting his opponents. He knows fully well his job preformance has been a failure. There is NO reason to believe that will change. I will vote for the lesser of two evils...leaves obama out!
  • by Obama Snake Oil Co Location: greenville on Jan 20, 2012 at 10:40 PM
    I'm such an idiot...
    • reply
      by Obama Snake Oil co on Jan 21, 2012 at 04:55 AM in reply to Obama Snake Oil Co
      I know you kids are saddened by the desperation of the moment and are willing to do anything to discredit another poster. Its just sad you have to stoop to such a low go have that good cry and see if your mommy will bring you a nice big glass of koolaid. I am sure you will feel much better. Oh, I am not an idiot, I made it real clear I wasn't going to vote for Obama after I read his book.
  • by Obama Snake Oil Co Location: Washington on Jan 20, 2012 at 06:18 AM
    Lavon, name calling, anger and, those polls must really have you frustrated. I told you to buy tissues and just cry it off, just like the last election in 2010. I told you it was coming and I am telling you to stock up for 2012. According the polls, Romney, Paul, Gingrich or Santorum will be the next president....Obama didn't make the short list. He is like the quarterback that talks smack but when it comes time to throw the pass, he just blames his inabilities on someone else.
    • reply
      by Anonymous on Jan 20, 2012 at 01:36 PM in reply to Obama Snake Oil Co
      Paul has no chance and neither does Gingrich. And Santorum...I'm not sure I want to vote for a guy named after an act of sodomy. That leaves Romney. A guy who's in a cult and enjoys being able to fire people. Not looking good for the GOP circus, maybe they'll have better luck in 2016?
      • reply
        by Obama Snake Oil Co on Jan 20, 2012 at 04:14 PM in reply to
        Really? Thats an interresting theory. So do logs in the tar river flow, like, ahh, upriver where you are?
  • by Lavon Location: Goldsboro on Jan 19, 2012 at 08:49 AM
    Reading these posts, it seems that Republicans are very upset that that can't get the black vote. You wanna know why? Go back and look at the tape from Santorum and Gingrich, Ron Paul and others attacking black people and there's your answer. We will never vote for your stinking Pig Party! SO STOP CRYING
  • by Christi Location: enc on Jan 19, 2012 at 07:43 AM
    Hey, ole Cristi said Romney should show returns and even back returns. He did and sees no reason why anyone, even the man he is supporting, should not do the same. When Romney tries to get by with just 2010-2011 it will get very interesting!
    • reply
      by Obama Snake Oil Co on Jan 19, 2012 at 08:12 AM in reply to Christi
      It won't make any difference, all his past income taxes have already been reviewed by the IRS compliment of BHO.
  • by Obama Snake Oil Co Location: Washington on Jan 19, 2012 at 06:05 AM
    All I see posted is from a bunch of sniveling whiners! So the man works all his life and has been paying 37% taxes on his income (millions of dollars). He then invests these for retirement in stocks in the same companies he saved and makes money off his investment. He then has to pay 15% for money he already paid 37% on, just like Warren Buffet and George Soros. The greed I hear now, is from those that chose to not try to better themselves. Get over yourself. It ain't about you in 2012, its about saving what is left of America. We see how you view this country and will make ever effort to remove your libterds from office in 2012. So pound sand, kick trees, its over.
    • reply
      by Anonymous on Jan 20, 2012 at 01:38 PM in reply to Obama Snake Oil Co
      Unless he's generating no returns he's not really being taxed for the same money he invested. Returns are additional money, and additional income. If you invest 1,000$ and return 1,500$, why should'nt the 500$ be taxed at the normal income rate?
      • reply
        by Obama Snake Oil Co on Jan 20, 2012 at 04:21 PM in reply to
        So, you didn't catch my earlier post and went shallow? Ok, well Romney paid 37% of his income during his working years which is just millions of much did you pay?, and he now makes money off investments off those bankrupt companies you hear about on MSNBC, well, they didn't go bankrupt, just reorganized how they did buisness, so, He now pays 15% on the money he paid 37% when he earned it if he makes any profit on those bankrupt companies. Does that help? I know the news media can be a little inept on the truth but OSOC looked into the details so you would no haft too. Its called capitol gains on what he invests on those bankrupt companies that are now making a profit and giving raises to the employees for cleaning them up and fixing the problems from those evil democrats that ran the companys into the ground giving money to Bill Clinton to get elected. I hope this helps!

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