Mitt Romney’s Tax Return Shows He Is A Fat-Cat
First, the soon-to-be GOP Presidential nominee for 2012, Mitt Romney, was not going to release his tax returns, and then he did, just to prove that he must flip-flop on every issues that he faces.
Only in the last August he had disclosed to the Federal Election Commission a net worth of between $190 and $250 million, however, despite repeated demands by other Presidential candidates such as Rick Perry, he refused to budge. That is until his friend and potential VP candidate on the GOP ticket, New Jersey Gov. Chris Christie asked him to do so.
Here is what Chris Christie’s official advise to Mitt, which was published only this morning : The way I've conducted myself in my public life all along is I've released all my tax returns, and I did it during the campaign, …went back a number of years and released my tax returns, and I've released them every year after I filed them –right after I filed them to the public in New Jersey so they can see everything. And I think that's the right way to go, and that's what I would tell Gov. Romney to do.
Why did Romney not release his Tax Return earlier? Because his income tax rate is close to 15 percent, the same rate that billionaire investor Warren Buffett says is much lower than what his secretary pays. In fact if you earn only $35,000 your tax rate is 35%. So with that much earning why does he pay so little tax? Thank the Republicans, especially Ronald Reagan—labor has to pay much higher tax rate compared to idle money stuck in some company shares. Take note please, if you earn money through your blood and sweat you pay higher tax than someone who is the lucky member of a select sperm bank, such as Paris Hilton.
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