Mitt Romney still won’t release any tax returns from before 2010. He now says, as The New York Times reported , “Every year, I’ve paid at least 13 percent.”
What does that mean?
Did he pay 13% of his adjusted gross income in taxes? (That’s income before your itemized deductions.)
Did he pay 13% of his taxable income? (That’s usually a far smaller number–your income after all your deductions.)
Did he pay 13% on $1 million of income? $10 million? $100 million?
Is he including any foreign tax payments for which he received a credit?
Is he lumping non-income taxes–like property taxes–into his 13% calculation?
How stunning might the Romney tax returns be that he’s willing to continue to take a drumbeat of criticism instead of releasing the returns?
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