The Romney campaign just announced that they'll be releasing Romney's 2011 taxes at noon Seattle time today. Some details are already out:
In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income. Their effective tax rate was 14.1%.
— Ashley Parker(@AshleyRParker) September 21, 2012
UPDATE 10:45 AM: The details just keep coming out. For instance:.
Romney camp says they could have written off more of their giving but didn’t so that Romney’s tax rate remained over 13%
— Zeke Miller (@ZekeJMiller) September 21, 2012
UPDATE 10:48 AM: The page which will be hosting the returns, mittromney.com/disclosure, is mostly down, probably because people keep refreshing the goddamned thing. This story is not disappearing down the Friday news dump hole.
UPDATE 11:16 AM: The press is already picking up on the fact that Romney reported less in donations than he actually paid. If he reported all of his charitable donations, he'd probably have paid about 9% in taxes. Which brings this little quote to mind:
JERUSALEM — Mitt Romney says that if he paid more taxes than were required, he wouldn't be qualified to be president.
The U.S. presidential candidate tells ABC News that American voters expect candidates to pay "only what the tax code requires."
I'm really interested to find out why they're releasing these taxes now. Are they just dumping all their bad news into one week? Is this to change the subject from Romney's incompetence? Do they think these taxes will exonerate him somehow? Anyway, this underreporting thing is very weird. As Rob Delaney writes:
Mitt Romney has just personally, powerfully stated that taxes for the very wealthy are too low. He just did this, just now.
— rob delaney (@robdelaney) September 21, 2012