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Romney releases his tax returns

Republican presidential candidate, Mitt Romney, released his tax returns today. It was revealed that he paid a 13.9% tax rate in 2010 and expect that to be 15.4% for 2011. As this rate is lower than most wage-earning Americans, I'm not thinking this is going to help Romney's chances.

Now, it should be noted that Romney contributed $7 million in charity over those two years, which represents more than 15% of his income. However, the majority of that money went to the Mormon church, which won't help him with the Evangelicals.

I think this was a double-whammy for Romney. No wonder he didn't want to release his tax returns. The 13.9 and 15.4% won't help him with the middle- and lower-classes, regardless of their party affiliation. Then the hefty donations to the Mormon church won't aid him with the religious right. I've long said that Mitt Romney is the Republicans' best chance at winning back the White House in this year's coming election, but even his chances appear to be progressively dimming of late. Upon hearing this news, it will be interesting to see how Newt Gingrich approaches the matter and if he begins to separate himself from Romney in the polls.

http://www.huffingtonpost.com/2012/01/24/mitt-romney-tax-returns-released_n_1225247.html

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