With all the talk over Mitt Romney’s tax secrecy, Paul Ryan was probably not the best VP pick Romney could have made. After all, Ryan is an economic Randian who wrote a tax plan under which Romney would pay no taxes at all on the $20 million in capital gains and carried interest Romney makes every year.
Romney even admitted this when commenting on Gingrich’s similar plan in the primary. The only income (that we know about) of Romney’s that Ryan’s plan would tax is the “not much” (hundreds of thousands) that he made in speaker’s fees in 2010, and the probably similar amounts he made in speakers fees in other years. When O’Brien did the math, Romney’s taxes under Ryan’s plan came out to an effective rate of 0.82% on $21,661,344.
Link found at Political Wire.