Quantcast
Connect with us

Paul Ryan tax returns show 15.9% rate in 2010

Published

on

RIVERHEAD, New York — Mitt Romney’s campaign released the latest two years of tax returns for Paul Ryan, showing his running mate paid a 15.9 percent tax rate in 2010 and a 20 percent rate last year.

The policy of releasing two years of tax data dovetails with Romney, whose refusal to release pre-2010 returns has been repeatedly criticized by Democrats as he tries to unseat President Barack Obama in November’s election.

ADVERTISEMENT

According to copies of tax returns filed by Paul and Janna Ryan and released by the campaign at the tail end of the weekly news cycle, the couple paid $64,764 in taxes on $323,416 of adjusted gross income in 2011, for a tax rate of 20 percent.

In 2010, they earned a total of $215,417 in adjusted gross income and paid $34,233 in taxes, for an effective tax rate of 15.9 percent.

The Romney campaign has been eager to put the issue of his personal taxes to rest, but the Obama re-election team has been hammering Romney’s refusal to release more returns, saying it only raises questions about the candidate’s business and financial history.

A two-year release by Ryan is not unexpected. Should he have released many more years of returns, that could have further raised suspicions that Romney was hiding something in his financial history.

Democrats have sought to tar Romney as a wealthy elitist with no sympathy for the common man. He has proposed cutting income tax rates by 20 percent, eliminating tax on investment income, and slashing the corporate tax rate.

ADVERTISEMENT

Obama has said such a proposal would hike taxes on families with children by $2,000 to pay for Romney’s $5 trillion tax plan, which would mostly benefit the wealthy.

Obama’s team made a surprise offer to Romney on Friday — that if he were to release five years worth of tax returns, they would stop asking about the other five. The Romney camp declined.

On Thursday, Romney said he has paid a tax rate of at least 13 percent in each of the last 10 years, but the White House hounded him to prove it.

ADVERTISEMENT

Romney — currently on Long Island, New York where he was attending two fundraisers — paid an effective tax rate of 13.9 percent in 2010, according to returns he has released, as his income from investments was taxed as a capital gain rather than under the higher rates applied for salaried income.

The current highest US income tax rate is 35 percent.

ADVERTISEMENT

Photo: Flickr user Gage Skidmore, creative commons licensed.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

2012

A harsh lesson for Trump: He can’t beat the virus — and even his followers know it

Published

on

The reviews are in and President Trump's ballyhooed return to the stage this past weekend in Tulsa was a dud. After three months on hiatus, with nothing but the increasingly disastrous coronavirus press briefings to keep him in shape, the president turned in a very shaky performance. Even his greatest hits, like "Lock her up" and "Build that wall," couldn't bring the magic.The campaign and the White House had relentlessly hyped this return, telling the media that they had a million RSVPs for the event and even planned an outdoor overflow venue where the president was slated to make a surprise visit before he entered the main stage. But the huge crowd failed to materialize and the outdoor event was hastily scrapped as it became apparent they wouldn't even come close to filling the indoor arena. Local fire marshals estimated the crowd at a little over 6,000, less than one-third the arena's capacity and 40,000 short of the crowd they anticipated outside.
Continue Reading

2012

Coronavirus is fostering a culture of no touching — a psychologist explains why that’s a problem

Published

on

Touch has profound benefits for human beings. But over the last few decades, people have becomeincreasingly cautious about socially touching others for a range of reasons. With the novel coronavirus spreading, this is bound to get worse. People have already started avoiding shaking hands. And the British queen was seen wearing gloves as a precautionnot to contract the virus.The coronavirus could very well have long-term implications for how hands-on we are – reinforcing already existing perceptions that touch should be avoided.Why is touch so important? It helps us share how we feel about othe... (more…)

Continue Reading
 

2012

North Carolina is a delegate prize on Super Tuesday. But it’s a complicated one

Published

on

CHARLOTTE, N.C. — Only two states have more Democratic delegates at stake than North Carolina on Super Tuesday. But who will get them?Well, it’s complicated.— It depends not just on how many votes a candidate gets but where he or she gets them.— In a sense, candidates still in the race will be competing with those who’ve dropped out.— And regardless of the primary outcome, so-called automatic delegates — once known as superdelegates — can support whoever they want.“Of course it’s complicated,” said University of Virginia political scientist Larry Sabato. “It doesn’t have to be that complicated... (more…)

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image