As a result of pressure by his competitors, Mitt Romney released his taxes today. However, he released only for the 2010 tax year with a promise to release his 2011 tax return once prepared and filed. He did not disclose, as his father George Romney did, tax returns going back 12 years. And there is the rub! This disclosure is only a partial disclosure and does not cover the years he was involved in Bain Capital nor does it disclose amounts located in the Grand Cayman Islands and overseas.
Further, his tax rate is at 13.9%, much lower than the top rate of 35%, coming from investments such as capital gains, stock dividends, interest and not a paycheck.
In-dubitably, this issue of taxes will not go away anytime soon.
