Mitt Romney Could Have Waited Decades to Pay His Taxes (1/22/12)

Mitt Romney pays an federal income tax rate of about 15% and says he is "not going to apologize for being successful." Someone who earns a wage of $60,000 also pays about this rate. Dividends and capital gains, which comprise most of his income, have tax rates of 15%. As someone who manages an investment partnership such as Bain Capital, Romney can make income now and report it as carried interest. This allows him to defer tax payments for decades. He promises to release many years of his tax returns. He put $100 million aside for his sons. What he is paying taxes on will remain a mystery if he does not release tax returns from 1984-1999, when he ran Bain Capital. This will surely spur the debate for serious tax reform. http://www.huffingtonpost.com/2012/01/22/column-what-romney-tax-re_n_1218453.html?ref=business