release your income tax so the people can see how you made your money. we know why releasing is so hard for mitt. rom nay pays a tax rate closer to 15%, and part of the reason why it s a loophole. not only legal, but pretty standard, but it doesn t feel fair and square. here s the bottom line. he was the founder and partner in bain capital. when you re a partner in a private equity firm, you get a cut of the profits you make. usually, 20%. now, stay with me because what happens here adds up to tens of billions of dollars in lost tax revenue for america. say my buddy, will, you ve probably heard me talk about him. works at cnn. say he invests $5 million in bain capital. and mitt romney, as he has done, does a really good job. he invests will s money well. so a year later, will s investment doubles in value to $10 million. ding, ding, ding, ding, ding. mitt s cut, $1 million. and that money is taxed at 15%. now, the reason this is unfair is that it wasn t mitt romney s money
happened in that tax return. let s go outfront. good evening. i m erin burnett, outfront tonight, mitt s taxes. now, romney is caving in to the mounting pressure. i think both president obama and hillary clinton released their taxes in 2008. just strikes me that governor romney ought to step and follow the same procedure. i don t know what my effective rate of tax is, but i m fairly confidence it s a lot higher than 15%. mitt, we need for you to release your income tax so the people can see how you made your money. we know why releasing is so hard for mitt. rom nay pays a tax rate closer to 15%, and part of the reason why it s a loophole. not only legal, but pretty standard, but it doesn t feel fair and square. here s the bottom line. he was the founder and partner in bain capital. when you re a partner in a private equity firm, you get a cut of the profits you make. usually, 20%. now, stay with me because what happens here adds up to tens of billions of dollars i
good evening. tonight, mitt s taxes. now, romney is caving in to the mounting pressure. fz. i think both president obama and hillary clinton released their taxes in 2008. just strikes me that governor romney ought to step and follow the same procedure. i don t know what my effective rate of tax is, but i m fairly confidence it s a lot higher than 15%. mitt, we need for you to release your income tax so the people can see how you made your money. we know why releasing is so hard for mitt. he plays a tax rate closer to 15% and part of the reason why is a loophole. not only legal, but pretty standard, but it doesn t feel fair and square. when you re a partner in a private equity firm, you get a cut of the profits you make. usually, 20%. now, stay with me because what happens here adds up to tens of billions of dollars in lost tax revenue for america. say my buddy, will, you ve probably heard me talk about him. say he invests $5 million in bain capital. and mitt romney, a
afghanistan. they won t say whether it s the type that contains highly classified information. security experts say if it is that drone, the u.s. military has lost a lot. the important point to take away here is that the iranians now have a very sensitive piece of american military technology in their hands. i hope that there s a self-destruct button attached to it. after months of bloody crack jouns against protesters, syria now says it will let observers into the country to monitor what is going on but only if the arab league agrees to drop sanctions against syria. the u.n. says more than 4,000 people have died in sirrian protests this year. once again, southern california is bracing for powerful, dangerous santa ana winds. we re talking gusts hitting 60 miles an hour in the mountains. that s happening today. 50 miles an hour in los angeles, ventura counties. what has it been like to deal with santa ana over the past week? cold, number one. scary and going to bed re