Mitt Romney’s Charitable Giving Plus His Tax Burden is 57.9%
In the debate the other night President Obama said that it was unfair that Mitt’s 15% tax rate is unfair.
What Obama didn’t say is that one reason why Romney’s tax rate is at that level is that he gives away a LOT to charity.
Obama’s team has mocked the 14.1 percent tax rate that Romney is in as shirking his responsibility. But Charlottesville, Va.-based Marotta Wealth Management, which pens a widely-followed research blog, found that when Romney’s tax burden and charitable gifts are included, he paid out 57.9 percent of his income.
“Giving $2.3 million to charity certainly should not be the basis of any criticism,” said David Marotta. “It is money the Romney’s did not keep for themselves, so I am counting it with the money lost to taxes.”
I think giving away this kind of money is admirable. Why would anyone try to make a political issue about this?Tags: charitable giving, mitt romney