Romney: $360,000 Is "Not Very Much" Money

Politics Staff Story

Romney’s been busy on the campaign trail this week cementing voters’ impressions that he’s an out-of-touch multi-millionaire.

On Monday Romney revealed he only pays 15% in taxes, which means he “pays the same tax rate as a family making $50,000,” as The Atlantic points out.

On Tuesday, he told voters that his $360,000 income from speaking fees is “not very much” money.

Today, ABC News reports that

Mitt Romney has millions of dollars of his personal wealth in investment funds set up in the Cayman Islands, a notorious Caribbean tax haven.

Note that nothing Romney has done with his taxes is illegal. But his low tax rate on an income of millions illustrates the loopholes in U.S. tax law.

Your take: Do you trust Romney to be a good president for Americans who aren’t wealthy?

Read more about Romney: $360,000 Is "Not Very Much" Money here

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