Tornado Alley (PROG)

[arizona1]

Ryan's latest whopper: Oops, I 'overlooked' 20% of my income

From the NYT article on Romney's newest tax info release:

In an amended return also released Friday, Representative Paul D. Ryan, Mr. Romney’s running mate, disclosed that he and his wife had initially failed to report $61,122 in income from 2011. He said the failure was inadvertent. The change raised their total income to $323,416 and increased their taxes by $19,917 to $64,674, or 20 percent of adjusted gross income.

They owed a penalty of $59 for the original underpayment. The Ryans explained that they had overlooked their income from the Prudence Little Living Trust. Mrs. Little, who died in 2010, was Mrs. Ryan’s mother.

Yup. I overlooked that $60K, almost 20% of my income. $60K here, $60K there, how am I supposed to keep track of it? Who can remember every penny? Besides it came from some obscure source I'd never remember ... what was it again? ... oh yeah, your Mom's trust.

Or maybe, just maybe, what I overlooked was the fact that I would be the vice-presidential candidate and wouldn't be able to count on the trust income going unnoticed and unreported.

Sorry, no time for questions, got to run another sub-3-hour marathon.

(As Paul Krugman has always called him: the flim-flam man.)
http://www.dailykos.com/story/2012/09/22/1135146/-Ryan-s-latest-whopper-Oops-I-overlooked-20-of-my-income