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Mitt Romney Tax Return

Mitt Romney Tax Return . By: Malcolm Thomas . Who is Mitt Romney?. Born on March 12 th , 1947 in Detroit Michigan he was the son of Michigan Governor George Romney ( Ran 3 times and won all three; his mother ran once for the senate and lost) Mitt founded the investment firm Bain Capital

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Mitt Romney Tax Return

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  1. Mitt Romney Tax Return By: Malcolm Thomas

  2. Who is Mitt Romney? • Born on March 12th, 1947 in Detroit Michigan he was the son of Michigan Governor George Romney ( Ran 3 times and won all three; his mother ran once for the senate and lost) • Mitt founded the investment firm Bain Capital • He ran for Republican presidential nomination in 2008 but lost to John McCain; In June 2011 Romney announced his bid for 2012 Republican presidential nomination • He is of the Mormon faith; received his undergraduate at BYU and also attended Harvard school of Law and Business

  3. Tax Returns • On January 24th Romney released his tax records indicating that he will pay $6.2 million in taxes on a total of $42.5 million in income from 2010- 2011 • That is a mere tax rate of 13.9 percent

  4. What’s the Big Deal? • The fact is that Romney’s tax rate is below that of most working Americans • It is true that that most of his income does stem from capital gains on investments and capital gains are taxed at 15 percent • Also it has been revealed that Romney holds a significant amount of money in the Grand Cayman Islands and in a Swiss Bank account • This is an area in which his rival nominees attacked him; Newt Gingrich questioned whether or not he was hiding anymore information about his finances from the public • These attacks helped Gingrich upset Romney in the South Carolina primary

  5. Article • http://www.reuters.com/article/2012/01/24/us-usa-campaign-romney-taxes-idUSTRE80N06U20120124

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