Tuesday, January 24, 2012

Romney Reveals Tax Returns - marketing at its finest

Mitt Romney (finally) decided to make his earnings public on Tuesday morning in an effort to curb the attacks on his wealth. In disclosing his personal income information, he is utilizing a marketing strategy to make himself both more appealing to the 99%ers (I'm not sure how many of them would be voting Republican anyway, but that's a question for another time) and show that he would be susceptible to the tax policies he plans to implement contingent on his election. (Weird, seeing as his personal federal income tax would be slashed by 40% under his plan.) Mitt Romney has earned (adjusted gross income) almost 22 million dollars in 2010, and paid a 13.9 income tax rate. Alas, the Romney family's income puts them in the top 1/10th of 1% of all 2010 taxpayers but due to different rules in the tax code, the Romney family has a lower tax rate than many fairly well-to-do (rich) families. Why is this important? It's a marketing ploy (albeit, pretty much mandatory) to show Romney's dedication to charity (the article lists his contributions to the Church of Latter-Day Saints and other organizations) and his willingness to subject himself to his own presidential policies. To read the actual story, compliments of The New York Times, click here.


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