Romney releases tax returns; Gingrich publishes Freddie Mac contract

Rick Moran
It's the battle of transparency today as Mitt Romney released his 2010 tax return showing he paid $3 million in taxes on $21 million in income. Wall Street Journal: GOP presidential candidate Mitt Romney paid a 14% effective income tax rate in 2010 after making $3 million in tax-deductible charitable donations and drawing most of his income from investments, according to a summary of Mr. Romney's 2010 tax form provided by his campaign. Mr. Romney reported $21.7 million in income. He paid $3 million in federal taxes, slightly more than the $2.98 million he made in charitable donations. At least $1.5 million of his charitable donations went to the Mormon Church. Of Mr. Romney's 2010 income, he noted a capital gain of $12.6 million, taxable interest of $3.3 million, ordinary dividends of $4.9 million and smaller sums of gains and losses on business income, refunds and other income. His 2010 return also showed that he had a financial account in Switzerland that was closed in 2010 and...(Read Full Post)

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