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January 26, 2012

Could you become a 15-percenter?

  • Even if investment income doesn't play a big role in your finances, understanding how tax rates work can help save hundreds, if not thousands in taxes.
    • By CANDICE CHOI
    AP Personal Finance Writer

    NEW YORK — Millionaires can be just like everyone else. At least when it comes to paying taxes.

    Mitt Romney released records this week that show he pays a tax rate of about 15 percent of his income. The relatively low figure is raising eyebrows because it's on par with the rate paid by many middle-class households. That's despite the Republican presidential candidate's impressive income of $45 million over the past two years.


     
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