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Nothing. Mitt is hiding nothing illegal. He paid all the taxes legally due and he has nothing to hide. I believe that in some years he paid less than his most recent tax rate of 13.9%. On an income of $10 million or $20 million or more, in some years he may have paid close to zero in taxes or may have even received a tax refund. That is how you build a fortune estimated north of $250 million by paying little or nothing in taxes. Mitt paid all the taxes legally due; he did nothing wrong.
However, he is embarrassed by how little he paid. He rightly believes that many voters will think that he should have paid more. Most employed voters will have paid a higher percentage in taxes to the Federal government. What will the employed think about Mitt’s taxes and just as importantly, what will the unemployed think about Mitt’s taxes and his offshoring pioneering that earned so many millions and paid so little taxes on them?
#1 by walthe311 on July 17, 2012 - 7:58 AM
Nothing. Mitt is hiding nothing illegal. He paid all the taxes legally due and he has nothing to hide. I believe that in some years he paid less than his most recent tax rate of 13.9%. On an income of $10 million or $20 million or more, in some years he may have paid close to zero in taxes or may have even received a tax refund. That is how you build a fortune estimated north of $250 million by paying little or nothing in taxes. Mitt paid all the taxes legally due; he did nothing wrong.
However, he is embarrassed by how little he paid. He rightly believes that many voters will think that he should have paid more. Most employed voters will have paid a higher percentage in taxes to the Federal government. What will the employed think about Mitt’s taxes and just as importantly, what will the unemployed think about Mitt’s taxes and his offshoring pioneering that earned so many millions and paid so little taxes on them?