Mitt Romney has invested his money around the world, from the Cayman Islands to Ireland to Australia. We don’t know if he’s using these accounts to avoid paying his fair share in taxes, but we do know that in 2010, Romney’s tax rate was a startlingly low 13.9%. This means Romney pays a lower tax rate than many teachers, firefighters, police officers, and other middle-class Americans—even a lower rate than most other millionaires.
If elected, Romney’s proposed tax plan would cut tax rates for the wealthy even further—cutting his own taxes and protecting loopholes that he benefits from. At the same time, he opposes the President’s Buffett Rule, which would require millionaires and billionaires to pay their fair share. That’s not right.