Mitt Romney Tax Return Shows Over 16% Of Income Given To Charity
Mitt Romney, one of the wealthiest Americans to ever run for President, gave more than $7 million to charity in 2010 and 2011.
He and his wife, Ann, donated about 16.4 percent of their adjusted gross income from 2010 to 2011, according to tax records released Tuesday.
The Romney's cash donations included $1.5 million in 2010 and $2.6 million in 2011 to the Mormon church, according to the tax documents.
The Romneys also donated in stock, contributing more than $2 million in shares from companies including Domino's Pizza and Dunkin' Donuts -- some of which went to their family's organization, the Tyler Foundation.
Russell James, director of a graduate program in charitable financial planning at Texas Tech University in Lubbock, told Bloomberg that the Governor's giving records are “shocking” at first glance.
“But it’s a different story when you compare it to total wealth. It’s not a shocking amount when you have a quarter- billion dollars in wealth.”
Romney's release of his tax records comes after increasing political pressure from former House of Representatives Speaker Newt Gingrich and others to provide details on his deep pockets.
On the campaign trail in South Carolina, Romney recently handed over $50 or $60 to a supporter who was struggling financially, CNN reported.
This hand-out and other similar instances have drawn criticism that Romney is a multimillionaire who's out of touch with the average Joe.