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