wages. mitt romney and his wife mostly live off capital gains and dividends. jenna: and that s why he has a lower tax rate than just if he got it in a paycheck, for example. right. jenna: what about these donations? there was a big question mark about how much he made in donations, what this tells us about his money. what do we see in looking at his tax returns? for 2010, he basically donated as much as he made as he paid in federal income taxes. he paid $3 million in taxes, he donated $3 million in taxes, 1.5 of that actually went it the church of latter day saints where he is a mormon and been a practicing mormon for a very long time, so this man is doing what capitalists should do, they make money, they donate it back to society, they pay their fair share in taxes. it s all there in the tax returns, 200 pages, jenna. i went through most of them. jenna: tracy burns, thank you very much, from the fox business network. as we watch mitt romney sign off there, ending his rebuttal t
june. that s a critical part of our overall economic health. at the same time personal income showed the weakest growth since september. jobs still a soft spot. let s stalk about it with our power pnl. tracy burns of the fox business network. and author of the wall street journal guide to the 50 economic indicators that really matter. simon, are these among the 50? they are. it s not good. and the bad news is it will stay week not just in the u.s., but everywhere. shannon: there is any glimmer of hope? the administration has been asked about a double dip recession. jean sperling waved that off saying that s not going to happen.
matters and its purpose, to attack fox news. but get this, it s being subsidized by the federal government. the headline is a democratic organization is attacking you and running a boot camp in violation of our tax laws and probably also the first amendment. and that guy should know. he used to be a white house counsel. former accountant and fox news reporter tracy burns joins us live. good morning to you. good morning, guys. media matters which is they ve publicly stated their goal is to destroy fox, they have claimed tax exempt status at a 5013c. so originally, they did not set out to cease and destroy fox. right? originally, they decided they were going to show media bias, come out, show both sides of this story and that s why they were able to claim the status in the first place. it s for charities. it s for educational purposes. if you want to establish
and it gets worse and worse. in order to pass certain laws, congressional leaders say give me a credit for my constituents for this and that adds on another 1,000 pages. no singer hugh human being can read and come the and comprehend the 17,000 pages. and the corporate tax code is just as worse. tracy burns, thanks. one person killed by the vicious weather whipping through north carolina. tornado watches and warning throughout the tar heel state. stay with fox news for continuing live coverage. another air traffic controller caught sleeping on-the-job. this time, in a major city what can be done to fix the problem? we ll ask an expert. e this ? it s got a calculator. thanks, dad. this is the neighborhood. you get elm street and you get main street. thank you. and that just the first quarter.
the south. these are live pick furs from wake county, north carolina where pictures from wake county, north carolina where you can see the damage has been down from arkansas to oklahoma, mississippi, alabama. we will continue to follow this for you. gregg: paying taxes of course never much fun. is the irs payinging matters wore by ripping off some americans with the tax code? here with us tracy burns. employees cannot deduct, some employs cannot deduct health premiums. others get a free ride. if you are with a corporation that offers great benefits sometime it is tax-free. self-employed get to write it off, you and i, we don t. it is one example of the many