Tagged: Taxes

GOP vice presidential candidate Paul Ryan and wife, Janna, have released the tax returns for the past two years.

According to the Milwaukee Journal Sentinel, the returns show that in 2010, Ryan and his wife paid an effective tax rate of 15.9 percent and one of 20 percent in 2011.

The Journal reports that a little more than half of the couple's income for that period came from Ryan's Congressional salary. The paper adds:

Tax increases will join political candidates on the November ballot in several states struggling to plug some big holes in their budgets.

One of the most closely watched measures is in California, where Gov. Jerry Brown has staked his reputation on closing his state's multibillion-dollar budget gap.

On Wednesday in Sacramento, Brown officially kicked off his campaign to get voter approval to raise taxes via the Schools Public Safety Protection Act, also known as Proposition 30.

The Friday offer from President Obama's campaign to Mitt Romney — that if the GOP presidential candidate releases his tax returns for the past five years, it won't attack him for not releasing more — was immediately rejected by the Romney campaign.

But the give-and-take keeps Romney on the defensive, and promises to keep the issue of Romney's taxes going for weeks to come.