Skip to content

Paul Ryan tax returns show 15.9% rate in 2010

Raw Story

Rep. Paul Ryan (R-WI) speaking at CPAC in 2011. Photo: Flickr user Gage Skidmore, creative commons licensed.

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.

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.

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.

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.

Photo: Flickr user Gage Skidmore, creative commons licensed.

View the original article at Raw Story.

Related Posts with Thumbnails

Posted in Politics, Public Figures.

Tagged with Democrats, Gage Skidmore, Long Island, Obama, Paul Ryan, President Barack Obama, tax.

Support #altnews & keep Dark Politricks alive

Any support to keep this site running would be much appreciated! If you see any adverts that interest you then please visit them as it helps me without you even needing to give me any money. A few clicks is all it takes to help keep the servers running and #altnews alive!

Please remember I have written hundreds of articles for this site and I host numerous amounts of material that has been taken offline by their original hosters which would be unavailable for viewing if it wasn't for this site. Therefore I would kindly ask you to help support me so that the site can continue doing what I think is an important job as well as reporting on stories the mainstream media would rather you didn't know about. I personally think it is important to host material such as removed reports that show that even FOX News once repoted on Israeli spy rings following the 9.11 hijackers before September 11th Or publishing the original Liberal Democrats Freedom Bill which was removed from their site once they enacted some watered down rubbish instead once they got into power.

However if you don't want to use the very obvious and cost free ways (to you) to help the site and keep me writing for it then please consider making a small donation, especially if you have a few quid sitting in your PayPal account doing nothing useful!

0 Responses

Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.

Some HTML is OK

or, reply to this post via trackback.