Romney pays extra taxes to keep his word, and break it too

Romney pays extra taxes to keep his word, and break it too
News
Friday, September 21, 2012 - 5:37pm

(CNN) -- Mitt and Ann Romney took steps to pay more in taxes than he had to last year, despite the Republican nominee's previous statements suggesting he abhors the idea of paying more taxes than required.

According to an announcement by the campaign Friday, the Romneys could have had a lower tax rate than 14.1% in 2011 if they had claimed more of their charitable deductions--an amount that equaled 30% of their income. Romney made $13.7 million mostly off of investment income last year.

However, the Romneys only claimed 16% in charitable deductions, thus keeping their income tax rate higher, in order "to conform" to Romney's previous comments about his tax rate, the statement read Friday.

Speaking with reporters in South Carolina last month, Romney said he had never paid less than 13% over the last decade. While he had released an estimate for 2011 at the time, he did not release the completed return until Friday. The document showed he in fact paid 14.1% last year.

The Republican presidential nominee has faced intense criticism from Democrats and some Republicans who have called on Romney to release more than his 2011 and 2010 returns. Releasing the documents, they argued, would answer questions about the candidate's offshore accounts and tax history.

His move to limit his charitable deduction-and keep a higher rate of taxes-last year, however, seems to butt heads with statements the former Massachusetts governor has made regarding taxes.

"I don't pay more than are legally due and frankly if I had paid more than are legally due, I don't think I'd be qualified to become president," Romney told ABC News in July. "I'd think people would want me to follow the law and pay only what the tax code requires."

Earlier in the year, at a Republican primary debate in Tampa, Romney made a similar remark, criticizing the notion of paying more than owed.

"I pay all the taxes that are legally required and not a dollar more," Romney said, one day before he released his 2010 return. "I don't think you want someone as the candidate for president who pays more taxes than he owes."

To be fair, Romney did pay what he "legally owed" last year; he just kept his legal requirement lower than what it could have been.

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CNN Political Producer Rachel Streitfeld contributed to this report.
 

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