Will The Real Mitt Romney Please Stand Up?
Just this week, Mitt Romney revealed that he paid $3 million in federal taxes in 2010, putting him among the top 1% of taxpayers in the US.
Romney is also a candidate that benefits from a tax code which allows his income, mainly investment from supporters , to be taxed a lower rate than wage earning Americans. Having his income taxed a a rate of 13.9% which is lower than the 35.% marginal rate that other Americans pay.
One of his investors in 2010 was the National Bank of Greece, which as most know is now dealing with a heavy debt that has crippled the country’s economy. Other investors have come from tax havens such as Ireland, Bermuda and the Caymen Islands as well as the China Life Insurance company.
He also has a Swiss bank account that he put in place in 2003 after winning the election for Massachusetts governor, though now the account has been closed since he launched his campaign, the account held almost 3 million dollars.
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One caucus and two primaries into the Republican nomination process, and we got ourselves a three-way tie! We recently found out that Rick Santorum, former Senator from Pennsylvania, actually won the Iowa Caucuses. Mitt Romney then proceeded to blow away the competition in New Hampshire by more than sixteen percentage points. This past Saturday, Newt Gingrich won a commanding victory at 40% with Romney in 2nd with 28%.
