Saturday, July 21, 2012

Mitt's Money

"Romney's $100 million IRA is remarkable in its size. Even under the most generous assumptions, Romney would have been restricted to annual contributions of $30,000 while he worked at Bain. How does this grow to $100 million?"
AND
"For 2010, the Romneys enjoyed a federal tax rate of only 13.9% on their adjusted gross income of roughly $22 million, which gave them a lower federal tax burden (including payroll, income and excise taxes) than the average American wage-earning family in the $40,000 to $50,000 range."
Maybe it is just me, but this was quite a bit out of alignment with my previous view of Romney.  Sure, I knew he was a wealthy guy, but Swiss bank accounts, $100 million IRA, and the fact that his father was the one who started the tradition of financial transparency adds up to something nearly as odd as the Obama birth certificate issue.  What's going on here?

Source:  http://www.cnn.com/2012/07/18/opinion/kleinbard-canellos-romney-tax/

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