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Mitt Romney, Member Of 0.01%, Says $374,000 Is "Not Very Much"

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(AP)

Though it's no secret that Mitt Romney's income is made up of residual Bain investments taxed at the low rate of 15%, the candidate admitted it this morning at a campaign stop in Florence, South Carolina. “It’s probably closer to the 15 percent rate than anything,” Romney said. According to the Times, he also loses his speaking fees in the cushions of his couch. “And then I get speaker’s fees from time to time, but not very much.” Yeah, what's $374,327, or nearly 14 times the per capita income of Americans?

15% is also considerably lower than what Romney told last night's GOP debate moderators what his ideal maximum tax rate would be: 25%. He also repeated last night's "wait until I'm definitely the nominee before you can see my tax returns" line: "I know that if I’m the nominee, people will want to see the most recent year, and see what happened in the most recent year and what things are up to date and so they’ll want to see the tax returns that come out in April."

They might also want to see a handwriting sample...

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Comments [rss]

  • Gadea

    Willard Mitt Romney - List of Campaign Contributors

    http://www.opensecrets.org/pre...

    Goldman
    Sachs $367,200
    Credit Suisse Group $203,750
    Morgan Stanley
    $199,800
    HIG Capital $186,500
    Barclays $157,750
    Kirkland &
    Ellis $132,100
    Bank of America $126,500
    PriceWaterhouseCoopers
    $118,250
    EMC Corp $117,300
    JPMorgan Chase & Co $112,250
    The
    Villages $97,500
    Vivint Inc $80,750
    Marriott International
    $79,837
    Sullivan & Cromwell $79,250
    Bain Capital $74,500
    UBS
    AG $73,750
    Wells Fargo $61,500
    Blackstone Group
    $59,800
    Citigroup Inc $57,050
    Bain & Co $52,500

  • adriancoroian

    I think what we need to do is look at the candidates leadership skills before we make any judgments. The media and articles like this will talk about things from many different viewpoints. I dont think people do enough research on this to know who the best president is. $300000 dollars is NOTHING to a large corporation with thousands of employees because after paying one month of salary that 300k is probably gone. We cant judge him on this kind of stuff. We have to see what kind of leader he was in the past for the businesses he has run. We have to look objectively. If the economy is down some things will get cut and yeah some employees will get fired. BUT we all know that the employees needed to run the business are going to stay and the ones doing good work are going to stay. The least productive ones go first. 

    I think when looking at a political candidate we cant look at the media at all. We have to read and make our own opinion about him from as many places as possible. Most of the population though will just go with the media and will choose presidents like George Bush and Obama. 

  • anonymouseFTW

    I, personally, think its hilarious that so many people apparently thought that politicians DID have some kind of understanding about what their day to day lives are like.

  • "There's class warfare, all right, Mr. (Warren) Buffett said, but it's my class, the rich class, that's making war, and we're winning"

    There has been class warfare going on," Buffett, 81, said in a Sept. 30 interview with Charlie Rose on PBS. It's just that my class is winning. And my class isn't just winning, I mean we're killing them."

    "My friends and I have been coddled long enough by a billionaire-friendly Congress." - Billionaire Warren Buffett, in a New York Times op-ed on Aug. 15.

  • aktobk

    "In capitalism, you're paid what you're worth. "

    Saint Peter when ya call me Lord I can't go, I owe my soul to the company store...

  • We should elect Romney, he's the only true candidate of the bunch who has zero understanding of what it is to earn a living with one's sweat.

  • TheOtherBob

    This story is a little bullshit, no?  I mean, first, does he even know how much he made last year on speaker fees?  Maybe he does -- maybe he keeps track of that stuff closely.  But odds are that if you said "you made $375k last year in speaker fees," he'd say "oh, that's a lot."

    Second, all he was saying was that, percentage-wise, it's a small portion of his income -- and so in figuring out what he pays, we can largely discount it.  If a higher percentage of his income were speaker fees, we'd have to try to figure out how much of his income is taxed at 15% and how much is at a higher rate.  But we don't really have to do that, because the speaker fees are a small percentage -- small enough that we can just basically forget about them and assume 15%.  And...fair enough.  I've got no disagreement with that.

    Look, this guy is nobody's first pick -- I certainly won't vote for him.  But this story is nonetheless kinda bullshit.

  • This is NOT what he was saying. Of course $300,000+ is a lot of money. He was referring to the fact that it's "not very much" compared to his main income. Face it... the guy probably makes millions a year in income from his investments. Compare that to his speaking fees, his speaking fee income was "not very much". And remember... Romney worked for 20-30 years and paid probably high income taxes throughout his life. He's now retired and lives off the passive income generated from his investments that he's built up during his long and successful career. I am sick of his loathing of those who have created wealth for themselves and their posterity. That's always been the American Dream (financial independence). Why are we degrading someone who did well for himself, paid his dues throughout his career, and is now reaping the benefits of everything he worked for?

  • Dead Himmler

    I understand that you think you will be one of those people in the future. I hate to be the bearer of bad news but you will not. I'm a stats genius and them are the facts!! Sorry.

  • TWaller

    Haha zing! Nice one.

  • theoddfather

    Gotta love Romney. To an even greater extent than with McCain, the GOP base is utterly uninspired by him and will sit out 2012 in large numbers. It'll be a closer race than 2008, but Obama will win handily. 

  • Stan_LS

    yawn

  • Wait, he doesn't think $374k is a lot of money AND I can't sit down to have a beer with him?? That's not going to play well in Peoria!

  • SeasTooFarToReach

    This post comes straight out of a "Media Matters" type of site!

    He didn't specifically said that but he implied it. (More like he diverted the attention away from the real figure.)

    At least he didn't advocate for eliminating the "job killing" minimum wage in the same breath...

  • cetriche

    If you live in NYC and have two kids, it's peanuts...

  • Rocknrope

    None of this means anything. 

  • pendejito

    Because in the end, Romney will win the nomination, and most probably the Whitehouse. He'll still be rich, and we'll still have nothing but our petty comments on gothamist. Onto the next four years!

  • aktobk

    unless there was some sort of global revolution albeit a bit daft at times but struggling to overturn a corrupted system. ah well, complacency it is!

  • Petruce_Carrier

    It's not much compared to $15 trillion!

  • ex-14thandYou

    "If corporations are people, then Mitt Romney is a serial killer!"

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