Why George Romney released his tax returns

There was, though, one exception to this pattern: “He balked when I badgered him for a copy of his latest Form 1040, the Federal Individual Income Tax Return,” Harris wrote. “Release of the document, while it might serve a political purpose, would not prove very much, he argued. One year could be a fluke, perhaps done for show, and what mattered in personal finance was how a man conducted himself over the long haul.” …

“Stumped by this argument, I was not prepared for the move that it eventually led him to make: He ordered up all the Form 1040’s that he and Mrs. Rome had filed over the past twelve years — including those profitable ones from when he saved the American Motors Company from bankruptcy and became a millionaire on the company’s stock options.”

Harris learned a great deal from the numbers, notably that the Romneys had given 23% of their adjusted gross income to charity, about three quarters of that to the Mormon church. One year, they gave away all but $390 of Romney’s salary and bonus.