Taxes, charity cost Romney 57.9 percent of income
Obama's team has mocked the 14.1 percent tax rate that Romney is in as shirking his responsibility. But Charlottesville, Va.-based Marotta Wealth Management, which pens a widely-followed research blog, found that when Romney's tax burden and charitable gifts are included, he paid out 57.9 percent of his income.
"Giving $2.3 million to charity certainly should not be the basis of any criticism," said David Marotta. "It is money the Romney's did not keep for themselves, so I am counting it with the money lost to taxes."
His basic math for Romney's 2011 return: $18.6 million in income minus $10.8 million in taxes and charity results in a net of $7.8 million, 42.1 percent of gross. Ditto for 2010, said Marotta.
NOW, let's ssfind out what akaObama's tax returns say. I've read that his net worth when he was a candidate was 1.3 million and, today 4 years later, he is reportedly wort 11.8 MILLION.
ReplyDeleteHow does that happen on a salary of about $450,000 per year?