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Romney's 15% tax rate may help rivals paint him as out of touch

Wednesday, January 18, 2012 - 02:18

Jan. 18 - Washington deputy bureau chief David Lindsey says Mitt Romney's admission that he pays about 15% in taxes may become a liability in the presidential campaign as his Republican rivals try to portray him as out of touch with average voters.

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Read this sort of have. Multiple releases of tax returns right. We'll wait until the tax returns for the recent year complete and then and then release of the if you think about it this is kind of part two of their strategy to make Mitt Romney's team lead in out of touch. Part one was going after his career. As a private private equity executive. I cast him as a job killer and all that. This is an effort to. -- kind of show what is true income is it and show that. Perhaps he pays a lower tax rate that many Americans. And credit try to create a sense of outrage about that it is a desperation news. Newt Gingrich and Rick Perry are. Kind of have their backs against the wall in terms of needing to bust out and get support from conservatives and stop. Romney's momentum and he actually started to offers some detail at a campaign stop today in South Carolina. He had mentioned first of all that he cities probably pays around 15% tax rate very high income people in this country pay roughly 15%. Taxes if there -- their resources are coming from. From investments and if you think about it that that is the capital gains rate. This is someone who makes a lot of his money off investments of income thrown off investments as opposed earning a paycheck like many Americans it. And it did that may not sit well with some Americans because. Who are paying thirty and 35%. The top tax rates. For on their wages and other thing that attacks and honestly tell you that they're really looking for in in Mitt Romney tax returns. Is the extent of his wealth. And his tax shelters. Bain Capital has a lot of offshore funds that he is invested in time. Bermuda Ireland Hong Kong Cayman Islands. And all these funds are or can be used as a way to lower your taxes your tax rate. And that is something that is very common among the very wealthy. But you average Americans it might come off bad is you know I'm not paying your fair share in taxes.

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Romney's 15% tax rate may help rivals paint him as out of touch

Wednesday, January 18, 2012 - 02:18