Mitt Romney Releases Tax Returns

Returns reveal the millionaire pays a low rate thanks to capital gains tax.
3:09 | 01/24/12

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Transcript for Mitt Romney Releases Tax Returns
As almost day Republican Mitt Romney made headlines of his own with his tax returns finally made public. We've had a chance to go over them and ABC's David -- spent the day with the Romney campaign reporting in from Orlando Florida tonight David. Diane good evening for the first time in a month in the daily Gallup tracking -- Newt Gingrich. Is now inching ahead of Mitt Romney and from -- -- tonight something we haven't seen before not this race for senate. Not his race for governor as you mentioned Diane we're now seeing his tax returns. Today too many factory floors are silence. As Mitt Romney spoke of hall load factor everywhere blue collar workers once made their living today a brand new -- help Mitt Romney makes his. That 2010 tax return and the estimate for 2011. Join -- -- more than 42 million dollars or for two years solely from investments Romney did not have a job. Think about six point two million dollars in taxes over two years his tax rate. -- 2010 about thirteen point 9%. Perfectly legal under the current tax code which allows Americans to pay a much lower rate the capital gains tax when their earnings come from investments. And not a job. If he were -- doctoral lawyer with the same salary he would be paying 35%. It turns out that -- tax rate is a much better deal now that it would have been under Ronald Reagan. Capital gains tax then up to twenty to 20%. Not Romney's thirteen point nine with so much talk in this country now about the 1%. On -- income puts a -- category even smaller. Point 006%. With robbing them to connect to the polls with -- in return. Question now. All of these new numbers -- with blue collar Republicans is there something else that might sound foreign to some voters Romney had a Swiss bank account now close. And he still has investments in the Cayman Islands. That the campaign insists are taxed at the same great. He held them here the campaign also pointing out the enormous sum of money given by the Romney charity more than seven million over two years more than four million to the Mormon Church. Romney seemed to predict this. A -- complicated taxes can be will there be discussion sure won't be an article you have but is it entirely. Legal and fair absolutely it's dead last night Bobby taking -- -- Newt -- -- money earned it Freddie Mac. Contract now we're dealing -- which was hired by the mortgage giants lobbying division. They don't pay people 25000 dollars a month for six years as historians -- center was taking and contributions you just -- -- a long way over here for -- To date meanwhile Newt Gingrich was fuming about something else something missing last night of the policy so called. But this. Locations to fuel in the audience told to hold their -- in which calling that stifling free speech. Now threatening to -- debates -- audiences are allowed to react. Now late today that Gingrich camp easing back from that threat not to show up at these debates they say they will show up. And debate the other candidates the dynamic they say they're gonna urge these moderator and these -- to allow the audience to applaud and -- -- and they want to. As you know Diane this has been looked -- the oxygen -- field Gingrich on this debate status.

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