Asked by reporters in Florence, S.C., about his tax returns, Mitt Romney today explained:
“What’s the effective rate I’ve been paying? It’s probably closer to the 15 percent rate than anything. Because my last 10 years, I’ve—my income comes overwhelmingly from some investments made in the past, whether ordinary income or earned annually. I got a little bit of income from my book, but I gave that all away. And then I get speakers fees from time to time, but not very much.”
Read more here. (Hat tip: Politico’s Maggie Haberman.)