This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
While Mitt Romney delays the release of his tax returns, he claims that his effective tax rate is around 15 percent and admits he has money invested in the Cayman Islands, probably shielded from taxation by the very government he wants to lead.
Under political pressure from his GOP rivals, he has promised to release his 2010 tax return in April. But by virtue of just the $373,327.62 in speechmaking fees earned by Romney this past year (which he characterizes as "not very much"), he would be in the top federal tax bracket of 35 percent.
Perhaps the reason to hide or delay disclosure is that his return will demonstrate how skewed the tax system has become over the past few decades to shield the wealthy 1 percent (mostly Republican) in this country from paying taxes. Romney is an esteemed member of the club.
Membership (in the 1 percent) has its privileges.
Gary Jones
Salt Lake City