Paul Ryan released two years of tax returns in a late Friday evening news dump, so you would think there's something evil or scandalous in there, but it turns out he pays a pretty normal rate.
The Milwaukee Journal-Sentinel's Craig Gilbert, Dave Umhoefer and Cary Spivak report Ryan paid a reasonable 20 percent in 2011, but a slightly lower rate of 15.9 percent in 2010:
Paul Ryan and his wife, Janna, paid an effective tax rate of 15.9% in 2010 and 20% in 2011, according to tax returns provided by the Romney-Ryan campaign to the Journal Sentinel on Friday.
In 2010, the Ryans paid $34,233 in federal taxes on $215,417 of adjusted gross income.
In 2011, they paid $64,764 in federal taxes on $323,416 of adjusted gross income.
The Journal-Sentinel spoke to a former KPMG accountant who said Ryan's taxes are "pretty normal," and explained the rate jump from '10 to '11 was because additional income bumped Ryan up a bracket.
In comparison, President Obama paid 26 percent in 2010 and an almost identical 20.5 percent in 2011. Running mate Romney's claims to have paid 13 percent for the last ten years, but has only released his 2010 return and an estimate of his 2011 return. The campaign didn't want to release more than two years worth of returns, despite extensive tax research during the vetting process, so as to not raise more questions about Romney's returns.
Over half of the Ryan family income comes from his congressional salary, but they also draw income from real estate holdings that he "married into," according to a campaign spox. They're his wife's and he has no part in them. His tax returns, overall, proved to be pretty boring.
This article is from the archive of our partner The Wire.
We want to hear what you think about this article. Submit a letter to the editor or write to email@example.com.