Cutting the IRS' Budget – and Romney's 15 Percent

When George Romney was Governor of Michigan he released 12 years of tax returns, saying that was the right thing to do. His son, Mitt, says he might release last year's returns, but not until they're due in April. The Republican presidential hopeful says he's probably paying a rate of 15 percent on his income, since most of it comes from investments. Former New York Times Pulitzer Prize-winning reporter David Cay Johnston now teaches at the Syracuse University Law School and writes a column for Reuters.