Today's Balance Sheet: Mitt Romney makes beaucoup bucks.
Jan 24, 2012
Mitt Romney released his tax returns today, revealing that he made a combined $42.6 million in 2010 and 2011, mostly through capital gains. Because the bulk of his wealth was made through investment, Romney only paid $6.2 million in taxes, which translates into a 13.9 percent tax rate in 2010 and an estimated 15.4 percent rate in 2011. Those rates place him in the same tax bracket as a couple making $70,000 a year.