Friday, September 21, 2012

Romney paid $1.94 million in taxes after earning $14 million for the year

With the race for President of the United States of America heating up, it seems that Romney might have finally buckled--to some extent. Today, he released his 2011 tax returns, showing that the candidate paid his taxes, despite Senator Harry Ried's outlandish claims, but that his tax rate was at 14%. As this article from The Statesman, an Austin area news source, goes on to show that Romney forwent deductions he could have claimed in order to keep his tax rage over 13%; he did this in order to keep a campaign promise. 

I pay taxes at a rate of 15.7%; Romney pays fewer taxes than a college student. I find this interesting, not only because my tax rate is higher than the presidential candidate, but because I have a hard enough time filing taxes with all the red tape for college students. Can I claim my books? Can I claim my taxes? Do I claim my payments on my student loans? Will I get audited? All questions that I, and yourself, will have to answer for yourself as we head closer and closer to Election Day. Will this affect Romney's chances at the White House? Who can say?

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