January 24, 2012

Two years, $45 million

And that is just what Mitt Romney made in 2010 and 2011, and will pay just that infamous tax rate of 15 percent.

No wonder he doesn't want to release older returns. Just how much did he make with Bain Capital and how little did he pay? Since much of his current income is from capital gains of money made from his Bain days, the answer could be "a lot" on earnings and "little" on taxation.

And, will this stop some of Romney's bleeding or make it worse? I still say "worse." His 15 percent rate is already being contrasted to the Obamas' 26 percent effective tax rate.

That said, neither Newt Gingrich of Fannie Mae "I'm not a lobbyist" fame nor Rick Santorum of "I"m not a post senate lobbyist" background is ideally positioned to push attacks too far.

In fact, per the New York Times, since Newt wants to get rid of capital gains taxes, he, at least, is very much not in a position to push this too much.

Finally, how much will Mitt push back on attacks, and will he blow up at some point?

And, beyond chess-game politics, will Dear Leader use this golden opportunity to push for meaningful income tax code revision?


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