Posted on 08/17/2012 5:48:45 PM PDT by Libloather
VP candidate Ryan paid tax rate of 15.9 percent in 2010, returns show
By Daniel Strauss - 08/17/12 06:33 PM ET
Paul Ryan and his wife paid a tax rate of 15.9 percent in 2010 and 20 percent in 2011, according to tax returns Mitt Romney's campaign released Friday.
In 2011, the Ryans had an adjusted gross income of $323,416 and paid $64,764 in federal taxes. In 2010, Ryan and his wife had an income of $215,417 and paid $34,233 in federal taxes.
Roughly more than half of that income came from Ryan's salary as a member of Congress. The rest came from capital gains, real estate, and dividends.
According to financial disclosure forms, Ryan's assets all together are worth somewhere between $2 million and almost $8 million.
The Milwaukee Journal-Sentinel, which was first provided the tax returns Friday, reported that in 2011 Ryan earned $116,143 off of real estate, partnerships, S corporations, trust, and similar sources of income. In 2010, Ryan reported earning $39,013 off of the same sources.
Ryan released tax return records for 2011 and 2010.
The release of Ryan's tax returns comes as Democrats continue to hammer Mitt Romney about releasing more of his records.
Romney has released his 2010 forms and said he plans to release his 2011 forms as soon as they are available. Democrats, however, argue that Romney should release more and his refusal to do so means he's hiding something.
Earlier in the week Romney said he paid a paid a federal income tax rate of 13 percent each year over a decade.
Vice President Joe Biden and his wife paid an effective rate of 23.2 percent on income of $379,035.
So his taxable income would have been less if he gave more to charity.
So his taxable income would have been less if he gave more to charity.
Thanks Libloather.
Romney said that he paid no less than thirteen percent each of those years. When I heard it I wished he would speak in positives instead of.
Negatives. It is so easy to paraphrase a negative statement in a misleading way. Of course this reporter, or the reporter on the radio may simply be math challenged. Romney should take a page from the Clinton playbook...just say we addressed that topic and won’t be discussing It again...next question...
Ryan and his wife also have three young children, whereas Biden and his wife have none. ....Deductions add up!
Democrats, however, argue that Romney should release more and his refusal to do so means he's hiding something.And the DemoncRATS are morons. If he was "hiding something" Obama's IRS Gestapo Nazis would be all over him like Mustard on a Hot Dog.
Romney's 2010 tax return -- all 500 pages of it -- is on his web site for all to see and download for dissection /s. Even for demoncRATS like Harry 'my taxes are secret' Reid. And in 2010 the Romney's paid $4.7 MILLION dollars in taxes on an AGI of $22 Million. That's an effective rate of 21.36% on all their income. And since a good portion of that $22 Million is Capital Gains which are taxed at 15% he's actually getting screwed with the 21.36% rate. (1)
FWIW, that $4.7 MILLION dollars is what 940 'average' Families of four would pay on an income of $50K per year filling out a 1040 with Schedule A and B deductions, or 10% after your typical deductions like RE Taxes and Mortgage. (2)
(1) NOTE: I don't have his return in front of me. I read it a while ago and am going from memory.
But my above numbers are 'close enough for government work'.
(2) Nobody pays the published IRS rates, not even if your file a 1040EZ.
And most filers pay zero taxes and are in a negative tax rate as they still get a 'refund'.
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