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

Here are 7 wild, bizarre and pathetic moments from Trump’s ‘campaign launch’

Published

on

On Tuesday night, President Donald Trump held a rally that was billed as the official launch his re-election campaign — though he has never really stopped holding campaign rallies.

As expected, the president ranted, lied, and engaged in the raucous attacks that are central to his connection with Republican voters. Some of it was actually just sad, such as his continued obsession with Hillary Clinton.

Here are seven of the wildest, disturbing and pathetic moments from the rally:

1. He said Democrats "want to destroy our country as we know it."

Trump casually accuses Democrats of "want[ing] to destroy you and they want to destroy our country as we know it." pic.twitter.com/4K79KlbEeR

Continue Reading

2012

British PM candidates clash over Brexit as Boris Johnson skips debate

Published

on

Candidates to become Britain's next prime minister clashed over Brexit strategy at their first debate on Sunday but the frontrunner, Boris Johnson, dodged the confrontation.

The 90-minute debate on Channel 4 featured the five remaining candidates and an empty podium for Johnson, the gaffe-prone former foreign secretary and former mayor of London.

In sometimes ill-tempered exchanges, four of the five candidates said they would seek to renegotiate the draft Brexit divorce deal agreed with Brussels even though EU leaders have repeatedly ruled this out.

Continue Reading
 

2012

Michael Cohen ordered back to Congress on March 6

Published

on

President Donald Trump's so-called "fixer" is being asked to return to Congress for more questioning on March 6.

Outside of the closed-door committee hearing Thursday, Cohen said that the House Intelligence Committee is seeking further information, according to Washington Examiner writer Byron York.

Michael Cohen finished closed-door testimony before House Intel Committee, says he's coming back for another session March 6. Again: No reason for secrecy. Transcripts should be released ASAP.

— Byron York (@ByronYork) February 28, 2019

Continue Reading