Tax employee charged for missing motor vehicle documents 6:48 PM
Internet cable from Cuba to Jamaica comes online 6:24 PM
Authorities probe the deaths of 12 babies at Belize hospital 6:01 PM
Two men arrested in Portland shotgun find 5:48 PM
Guyana debates whether to allow cross-dressing 3:54 PM
Bravo's Super Kings march into IPL final 2:59 PM
Showdown: Felix v Fraser-Pryce over 150m 2:25 PM
Dwight Thomas second in World Challenge 110m hurdles 2:10 PM
Police find homemade firearm in Lucea 10:32 AM
Raymond Wilson still in hospital 10:27 AM
News
Romney says he’s not a tax dodger; Obama says prove it
Thursday, August 16, 2012 | 4:52 PM
WASHINGTON, USA (AFP) — White House hopeful Mitt Romney offered his fullest explanation yet about his tax status yesterday, saying he paid at least 13 per cent a year over the past decade, but President Barack Obama’s campaign offered a prompt retort: prove it.
Romney, a multimillionaire former investor, has been under assault by Democrats for refusing to release pre-2010 tax returns, and he appeared irked by the question about his personal finances in the midst of some of the most heated rhetoric of the 2012 campaign.
“I just have to say, given the challenges that America faces — 23 million people out of work, Iran about to become nuclear, one out of six Americans in poverty — the fascination with taxes I’ve paid I find to be very small-minded compared to the broad issues that we face,” he told reporters at an airport near Greenville, South Carolina.
“But I did go back and look at my taxes, and over the past 10 years I never paid less than 13 per cent. I think the most recent year is 13.6 or something like that. So I paid taxes every single year,” he said.
Romney paid an effective tax rate of 13.9 per cent in 2010, according to returns he has released, as his income from investments was taxed as a capital gain rather than under the higher rates applied for salaried income.
Those figures may not sit well with many middle-class Americans who pay a higher rate than Romney because they pay taxes on salaried income more than investment income. The current highest US income tax rate is 35 per cent.
Obama’s campaign threw down the gauntlet, saying that “since there is substantial reason to doubt his claims, we have a simple message for him: prove it.”
“Even though he’s invested millions in foreign tax havens, offshore shell corporations, and a Swiss bank account, he’s still asking the American people to trust him,” Obama campaign spokeswoman Lis Smith said in a statement.
Other Stories
ATL FRAUD CASE: 'Butch' reversed funds credited to his pension account
Thwaites concerned about underpopulation at several schools
JPS investing US$5m in IT to improve service
CHASE Fund, sports continue to reap big benefits from SVL
Floyd Morris: The blind wonder is a leader of men Pt 2
Stanley Redwood COWARD OR HERO?
Put more trained teachers in basic schools, says MP
Fence theft, unfair motorists frustrate Highway 2000 operators
PHOTO: NCB supports Wear Red Day
40 farmers benefit from EU diversification programme
9,000 houses for low-income earners
Tax employee charged for missing motor vehicle documents
Internet cable from Cuba to Jamaica comes online
New Act coming to deal with squatting - Housing Ministry
Authorities probe the deaths of 12 babies at Belize hospital
Two men arrested in Portland shotgun find
Guyana debates whether to allow cross-dressing


