Romney Paid 13.9%

|
January 23, 2012 7:17 p.m.

We’ve got the first report about Romney’s 2010 taxes. His effective tax rate was 13.9%, just below the 15% he estimated last week. Here are the initial details.

Key passage from Reuters story

Romney advisers stressed that the holdings in the Caymans — along with those in a Swiss bank account that was closed in 2010 after an investment adviser decided it could be politically embarrassing to Romney — were reported on tax returns and were not vehicles to avoid taxes.

My quick take on this is that there’s a lot here that’s fairly damaging for Romney in political terms, largely for the reasons I set forth earlier in this post. Beyond that there’s a lesson about the consequences of losing control of events. For a man running for president in 2012 it’s damaging stuff. But now everything in these documents comes with a preface that reads “We really wanted to keep this secret. But that didn’t work out.”

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