Breaking News

Mitt Romney Discloses His 2010 Tax Returns
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Republican presidential hopeful Mitt Romney has released his tax records for 2010. The 500+ pages of tax documents show that Romney paid $6.2 million in taxes on a total income of $42.5 million.

This means that Romney paid an income tax rate of just 13.9%, which would put him in the lower income tax brackets. But the reason that he paid a low tax rate was because most of the wealth that he earned was in the form of capital gains on investments. Capital gains are taxed at 15 percent, while the top income tax rate for wage earners is 35%.


Romney’s aides stressed to the media that the reason for his low tax rate was because his income is mostly from investments which are being held in a blind trust. Romney and his wife have also contributed almost $7 million in charity, mostly to their Mormon church. But Romney also has undisclosed amounts located in the Grand Cayman Islands and other overseas institutions.

Romney’s aides say they will be releasing his tax returns for the year 2011 after he files them this year. In response to questions as to why he is not releasing his tax returns filed in the 1980s and 1990s, when he made most of his fortune while running private equity firm Bain Capital, campaign counsel Ben Ginsberg said that the two years covered should be enough to give a good picture of Romney’s finances.

Romney who has said “corporations are people” released his tax filings when he came under fire from other Republicans presidential hopefuls, especially Newt Gingrich.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


Interesting Legal Sites You May Like




Search Now

Mid-level Tax Associate Attorney

USA-CA-Los Angeles

Los Angeles office of an AmLaw firm seeks mid-level tax associate attorney with 3-5 years of experie...

Apply Now

Real Estate/Transactional Attorney

USA-PA-Camp Hill

Camp Hill office of our client seeks real estate/transactional attorney with experience. The candida...

Apply Now

Corporate Attorney


Laramie office of our client seeks corporate attorney with 2+ years of experience.

Apply Now


Commercial Real Estate Attorney

USA-NY-New York City

Midtown, mid-sized real estate law firm seeks experienced Commercial Real Estate Attorney with 5 or ...

Apply now

Real Estate Tax Certiorari Attorney

USA-NY-New York City

Midtown, mid-sized law firm seeks experienced Real Estate Tax Certiorari Attorney in its high volume...

Apply now

Commercial Litigation Attorney

USA-NY-New York City

Midtown, mid-sized law firm is seeking a Commercial Litigation Attorney with a minimum of 3 years of...

Apply now

Associate Attorney


Extremely busy Tri Cities, WA law firm announces a new opening for an associate attorney.  We p...

Apply now


To Top