Romney says he pays about 15 percent in income tax

Return To Article
Add a comment
  • Northern Logan, UT
    Jan. 22, 2012 1:20 a.m.

    Everyone here can pay only 15% all they have to do is spend 20 years investing instead of buying a bunch of junk they don't need.

    They one thing that sets the US apart, is that anyone can WORK there way to the American Dream.

  • worf Mcallen, TX
    Jan. 18, 2012 11:22 p.m.

    Over half of our people are collecting handouts off of the backs of people like Romney, and they whine for more.

    Go figure.

  • worf Mcallen, TX
    Jan. 18, 2012 11:00 p.m.

    We now have a nation of beggars. Maybe Romney should be poor and collecting entitlements. It's now the American dream.

  • JoeBlow Miami Area, Fl
    Jan. 18, 2012 1:24 p.m.

    Our Spending is at an all time high and our tax rates are at record lows.

    It is not rocket science to conclude that we need to adjust both.

    Or is it.....

  • Yorkshire City, Ut
    Jan. 18, 2012 12:42 p.m.

    Can we just sum it up and say we all--and that means everybody--is CONFLICTED about money??

    We're conflicted about people, in our estimation, that have too much.

    Is their money a sign and reflection of their hard work, thrift, intelligence, business sense and capitalism at work--or of too many tax loopholes, unethical practices, corruption and greed?

  • Rational Salt Lake City, UT
    Jan. 18, 2012 11:59 a.m.

    How out-of-touch could the White House possibly be?

    "Spokesman Jay Carney said: "This only illuminates what (Obama) believes is an issue, which is that everybody who's working hard ought to pay their fair share. That includes millionaires who might be paying an effective tax rate of 15 percent when folks making $50,000 or $75,000 or $100,000 a year are paying much more.""

    It is capital gains, Carney. Not only are capital gains rates available to everyone on their investment income, including Grandma, Grandpa, and retired Aunt Fanny. Unless the law has changed recently, someone with very little ordinary income -- your "poor folks" -- also pay a lower capital gains rate than someone in a higher income tax bracket!

  • Rifleman Salt Lake City, Utah
    Jan. 18, 2012 11:24 a.m.

    Re: Arm of Orion | 7:38 a.m. Jan. 18, 2012
    "Was he dodging on his taxes? Did his people find a new loophole for him to work with?"

    You can't bet your very last dollar that the IRS examines his tax returns. To refresh the memories of the liberals among us it was Timothy Geithner that had to pay his back taxes before his nomination as U.S. Treasury Secretary was confirmed.

  • Rifleman Salt Lake City, Utah
    Jan. 18, 2012 11:19 a.m.

    Re: JoeBlow | 8:15 a.m. Jan. 18, 2012
    "My point is that only the rich can make MONEY off of MONEY"

    It is all a matter of budgeting. Michael Jackson proved that you can always spend more money than you make if you really put your mind to it. The secret that applies to EVERYBODY both rich and poor is to save some of what you earn and put it into the bank. If you can't afford a cell phone, TV, stereo, or ski boat ...... don't buy them on credit.

    Romney had tax accountants determine what he owed .... and then he paid it.

  • Locke Rexburg, ID
    Jan. 18, 2012 10:34 a.m.

    That's 15% on dividends, not salary. Dividend taxes were made lower than income taxes to spur investment, and it works. It should not be changed.

    What's too high is income taxes.

    I wouldn't want to release my income tax statements, would you? It's rather a big bit of private information to make public, and I would not care if any political candidate kept it private.

    Now if Obama were so open and transparent, he'd release his college transcripts like previous presidents and candidates have done.

  • JoeBlow Miami Area, Fl
    Jan. 18, 2012 10:14 a.m.

    "what do you have to hide?"

    Obama has released hit tax returns going back to 2000.

    Additionally, he has released his returns each year he has been in the White House.

    Pretty easy to find if one looks.

    Kind of like the Birth Certificate.

  • xscribe Colorado Springs, CO
    Jan. 18, 2012 9:05 a.m.

    Since everyone is in defense of Romney on these posts for the most part, I'll go the other way and ask the question that most want to ask of Obama about certain issues: Why not release your tax statements; what do you have to hide?

    Frankly, I could care less one way or the other, but it needed to be said!

  • JoeBlow Miami Area, Fl
    Jan. 18, 2012 8:15 a.m.

    Arm writes

    "However since his income is capital gains all of a sudden that 15% is legal and no real undermining of the campaign."

    I fully understand that. Romney has done nothing wrong.

    My point is that only the rich can make MONEY off of MONEY.
    Virtually no poor do and only some middle class.

    Can you explain why the guy who has investment income should pay less than the guy who earns a paycheck?

    Can you justify that the CEO making $30 million can structure his pay so that his tax rate on much of his earnings is only 15% while those that work for him pay a higher %?

    Why is that money taxed at 15% vs 35%?

    Could it be that these tax advantages are what is causing the countries wealth to be disproportionately collected at the top?

    This is my problem with the GOP taxing structure. It tilts the playing field and we are seeing the results.

  • TOO Sanpete, UT
    Jan. 18, 2012 7:39 a.m.

    Chris B

    I have learned about this stuff my whole life from my parents. Whenever I have thought about paying higher taxes because you make more it infuriates me. I am 24 and I pay 15% as well.
    I have never realized it the way you said it above. One should pay for what he uses, not what he makes. Thank you for giving me another analogy that makes sense.

    If Buffett and Gates and Obama, Reid, Pelosi and the like think it is so unfair that they don't pay more taxes than here is a suggestion for them: Write a check for more than you owe and send it to the IRS. Nobody is stopping you. If you feel you are cheating people, then go ahead and do it. But nobody is going to pay more than they have to, it's that simple.

  • Arm of Orion Cottonwood Heights, UT
    Jan. 18, 2012 7:38 a.m.

    Joe the title of the article is "Romney says he pays about 15 percent in income tax." Clearly you can see the distinction when Romney's income comes from Capital Gains not income as the article's title implies. Here though is why it is important. If Romney's money came from traditional income he would be somewhere in the 20-30% range. So if he only paid 15% where did all the other money go? Was he dodging on his taxes? Did his people find a new loophole for him to work with? All questions that could undermine the campaign wouldn't you agree.

    However since his income is capital gains all of a sudden that 15% is legal and no real undermining of the campaign. That is the importance and distinction that needs to be made clear which the article touched on and the title of the article completely ignored.

  • Rifleman Salt Lake City, Utah
    Jan. 18, 2012 6:22 a.m.

    In 2006 Buffett paid 17.7 percent in taxes on the $46 million he booked that year. Romney paid what the tax laws require and shouldn't be expected to pay one penny more.

  • JoeBlow Miami Area, Fl
    Jan. 18, 2012 5:24 a.m.

    "The difference is his income comes from capital gains, which is 15%. "

    OK, as if that is of major distinction to that average American.

    And if Cain had his way with the 999 plan, Romney would pay close to ZERO.

    The system is skewed towards those who have money.

    I don't blame Romney for paying what the law says. But I do blame the GOP for wanting to lower the taxes for those who are collecting more and more of the wealth.

    And to Worf, Yes, Obama pays taxes on his vacation money. Did you ask the same thing about Bush?

    Minor issues. Does this keep you up at night?

  • worf Mcallen, TX
    Jan. 17, 2012 10:50 p.m.

    Does Obama pay taxes on his vacation money?

  • VAggie Bristow, United States
    Jan. 17, 2012 10:27 p.m.

    No big deal. Much of Mitt's income is tied to dividends and investments. This is taxed at a lesser rate to avoid double taxation, where the Corporation is taxed, and then the owners (shareholders) get taxed again on their income, so the tax rate on investments is less than income tax.

  • Arm of Orion Cottonwood Heights, UT
    Jan. 17, 2012 8:08 p.m.

    The title is wrong he does not pay 15% income tax he pays 15% of his income to tax. The difference is his income comes from capital gains, which is 15%. Nice try though AP at getting your attention grabbing false headline.

  • Joan Watson TWIN FALLS, ID
    Jan. 17, 2012 7:23 p.m.

    Romney should challenge that everyone running for office or in office do likewise. Then too would it not be interesting to learn how these career reps and senators become multi-millionairs while doing the 'peoples business'?

  • gibson provo, UT
    Jan. 17, 2012 6:07 p.m.

    Romney pays what the Congress passed laws require him to do so. Are we looking for someone who pays more taxes than the laws require? Issues like felons voting, taxes paid and negative ads are so irrelevent compared to the question of who has the proven leadership and organizational skills to lead this country. And all this emphasis on people losing their jobs if their companies were owned by Bain. Why doesn't someone ask Perry how many jobs will be lost if he disbands the Education, Commerce and whatever the Opps department of the government is? Changes made to reduce the government will cost hundreds of thousands of jobs. Compare that with 1,700 jobs lost from a Bain company closing. Folks we need to be discussing real issues in these debates. I want a president who is a winner and knows how to make things happen. Romney ought to tell the rivals, I will stop telling the truth about you if you will stop telling the lies about me.

  • Chris B Salt Lake City, UT
    Jan. 17, 2012 1:53 p.m.

    I think I'm responsible for what I USE.

    I think you are response for what you USE.

    Even if Romney paid 1% in income tax, he'd still be paying far more than you and I.

    He is paying way more that what he USES.

    When I go to buy a car, why doesn't the car dealership total the cost of my car and all other cars bought that day, then collect our income information and only charge me half of what my car costs and charge the guy who makes more than me the cost of his car plus half of the cost of my car?

    The percentage is IRrelevant.

    He's likely paying hundreds of thousands in taxes every single year.

    When Romney drives on the road does his car do infinitely more damage than my car does, and therefore he should pay much more than me to fix the road?


    Let us all pay for what we USE

  • 3grandslams Iowa City, IA
    Jan. 17, 2012 1:10 p.m.

    So we're back what? Should we join the chorus of democrats and make fun of rich people?