A.B. in the News

AP: Romney Paid $3M In Federal Income Tax In 2010

On January 23, 2012, the Associated Press reported:

Republican presidential candidate Mitt Romney paid about $3 million in federal income taxes in 2010, having earned more than seven times that — $21.7 million — from his investments and making him among the wealthiest of American taxpayers.

[…]

One investment, listed as a “Federated Government Obligation Fund” and worth between $250,000 and $500,000, was a mutual fund that included both Fannie Mae and Freddie Mac assets among a larger pool that included other government securities.

The holding was not listed in Romney’s blind trust, which led some Democratic Party activists to suggest that the investment was under his direct control.

“He is relentlessly attacking Newt Gingrich over his ties to Freddie Mac despite the fact that he personally invested up to a half a million dollars in both Fannie Mae and Freddie Mac,” said Ty Matsdorf, a senior adviser with American Bridge 21st Century, a PAC associated with Democratic Party and liberal causes.

Read the whole article here.