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WEALTHY Rivals Attack Romney on Tax Rate AFP / Getty Images

Rivals Attack Romney on Tax Rate

Mitt Romney may wait till April to release his tax returns, but his comment that his tax rate is “probably closer to the 15 percent rate than anything” is enough for critics to start with. Newt Gingrich joked that he should rename his plan for a single 15 percent tax rate the “Mitt Romney flat tax,” while Rick Perry redoubled his calls for Romney to release his full records so voters can see “if he's as good a businessman as he says he is.” The White House got in on the action, pointing out that Romney’s low rate is an example of the inequality of a system that taxes investments at a much lower rate than income. When a reporter pointed out that Romney, who says most of his income comes from investments, is following the law, spokesman Jay Carney said, “The president believes we ought to change the law, for that reason.”

January 18, 2012 6:34 AM