13.9% Just Under 15% ?

What is a small amount of money ? The extremely excellent Josh Marshall typed

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. More shortly.

44 minutes ago (eek I just typed “just typed” then noticed the irony).

The tiny difference between the taxes Romney publicly guessed he roughly paid and the taxes he paid is over $450,000. One of Romney’s many gaffes is saying his taxes were around 15% because, although he had earned money for speaches, he didn’t earn much. Indeed he earned less than 450,000 that way. But it is a huge amount of money to earn with so little sweat.

Similarly the difference between 13.9% and 15% is more than seven times median family income.

Of course, Romney’s income isn’t close to a rounding error in the Federal Budget.

I think that getting the rate under 15% requires considerable effort. As a businessman consulting with his lawyers and accountants, Romney doesn’t leave money on the table (it’s not the money it’s the principle that it’s all about the money). As a candidate, I’m sure he really really wishes he had found a way to send a million more over to the IRS.