'I never paid less than 13 percent' in taxes, Romney says

By Catholic Online (NEWS CONSORTIUM)
8/17/2012
Catholic Online (www.catholic.org)

Republican candidate, suspected of withholding sensitive information says he 'paid taxes every single year'

"I did go back and look at my taxes, and over the past 10 years I never paid less than 13 percent," Republican presidential candidate Mitt Romney told reporters at the Greenville-Spartanburg International airport in South Carolina. "I think the most recent year is 13.6 or something like that. So I paid taxes every single year." There had been widespread speculation about Romney's tax returns, which has remained closely guarded.

Mitt Romney's campaign had previously denied that he never paid taxes. The event marked the first time he's offered more specific information about what he has paid in taxes in the past.

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LOS ANGELES, CA (Catholic Online) - Romney has publicly released his 2010 tax return in addition to an estimate of his 2011 return, but has refused to release any more. Romney maintains that the Democrats will use the returns to level false charges against him.

Romney has received harsh criticism from both Democrats and Republicans for his refusal to release more of his tax returns. Senate Majority Leader Harry Reid said that an "extremely credible" source from Bain Capital, which is the private equity firm Romney founded, told him personally that Romney avoided paying taxes for 10 years.

"Harry Reid's charge is totally false," Romney said. "I'm sure waiting for Harry to put up who it was that told him what he says they told him. I don't believe it for a minute, by the way. But every year I've paid at least 13 percent, and if you add in addition the amount that goes to charity, why, the number gets well above 20 percent."

Romney's campaign had previously denied that he never paid taxes. The event marked the first time he's offered more specific information about what he has paid in taxes in the past.

When queried in an interview on July 29, as to whether he's ever paid a rate below 13.9 percent, Romney told ABC News, "I haven't calculated that. I'm happy to go back and look, but my view is I have paid all of the taxes required by law."

Romney said that with the many challenges facing America, "the fascination with taxes I've paid, I find to be very small-minded."

The Obama campaign stepped up to the plate and issued a challenge to Romney.

"Mitt Romney today said that he did indeed 'go back and look' at his tax returns and that he never paid less than 13 percent in taxes in any year over the past decade," Obama campaign spokeswoman Lis Smith said.

"Since there is substantial reason to doubt his claims, we have a simple message for him: prove it. Even though he's invested millions in foreign tax havens, offshore shell corporations, and a Swiss bank account, he's still asking the American people to trust him," the statement read.

� 2012, Catholic Online. Distributed by NEWS CONSORTIUM.

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Keywords: Taxes, Mitt Romney, denial, returns, controversy

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1 - 6 of 6 Comments

John Lopes
9 months ago
Toni, you stated he probably made his money on investments and or interest. With all due respect, Probably or assuming makes an ass out of you and me. Good bless.
Toni Malik
9 months ago
It is unfortunate that Mitt Romney is not very good at explaining things and that is probably why he chose Paul Ryan as his running mate. Since Mitt Romney probably has not had an employer or a company for the past 10 years, his income is probably from investments or interest. That 'income' is from money he has already paid taxes on when he first earned it, so the money has already been taxed once and he is probably paying capital gains taxes which is another tax category. When you consider what his personal wealth is, the amount of taxes he pays is probably substantial. When you consider that he has been employing many many people (out of his own pocket) over the years and spending untold dollars - he has added a fair share to the economy, and none of it is coming out of the taxpayer pocket and I am grateful for his contribution.
Rob
9 months ago
Missy, Obama's returns from 2000 forward are available for your review. A simple google and you can find them. You know as well as I do that if Obama had done what Romney had done, they would still be talking about it.

Many say that it doesn't matter. I would beg to differ and I suspect so would Romney's father. He knew that someone's tax filings, particularly the wealthy, says a lot about your stewardship of this resource. Given what we know today, how am I supposed to trust that Romney's reform will be anything that merely serves to lower the rate of people like him. They guy already enjoys some of the lowest rates in our system, but then decides to offshore as much as possible to lower it even further. Best case scenario Romney made a lot of money, has lots of outsourced accounts etc that he knows looks bad, or he actually has an IRS enforcement action against him. I found it interesting that he was the head of the audit committee for a major US corporation who found themselves in some trouble for creative tax planning. I wouldn't doubt if he purchased the same tax products and had to come clean. If that is in his background and that came to light, I think he'd be through.
John Lopes
9 months ago
Romney brings this up, so why hide it? You cant run on your record if the American people can't see what you have been doing or claim to do. Doesn't make sence why you would want to lower the tax rate even further for the rich. Trickle down economics has not worked. Paul Ryans path to prosperity in the disclaimer (small print) for the rich only. I fear for the poor, the minority. His plan would take 40 years to balance the budget. Ryan's budget calls for major tax cuts for corporations and the wealthy that would cost $4.3 trillion over the next 10 years, according to the nonpartisan Tax Policy Center. But Ryan hasn't fully explained how he would make up for that lost revenue. His proposed cuts to entitlement programs would free up only $1.7 trillion: $700 billion from Medicare savings in President Obama's health care overhaul, and billions more from slashing food stamps and health insurance for the poor and disabled. Ryan claims he would also eliminate certain tax benefits and deductions, many of which are very popular with middle- and lower-income families, but hasn't specified which ones. He says he will further cut spending, but hasn't detailed how. Doesn't add up.
missy
9 months ago
Most people do not understand how taxes work. Did Obama release his returns? I really don't see the big deal if they want to keep their financial information to themselves. You're only required to keep the last 3 years of records anyway. Debbie, if you replaced the word "romney" with "obama" you're statement would still be true. So, go out & have fun on election day not voting for anyone (insert gigantic eyeroll).
debbie
9 months ago
Romney is hiding something - otherwise he would release more tax returns. Even some fellow Republicans are asking him to do this. But he will not release the tax records because it will reveal the way wealthy Americans are able to dodge paying taxes and then be forced to close the loopholes due to public outrage. He has a history of lying and it will continue if he is elected. I will NOT be voting for this man!

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