Election 2012: A win for Obama could cost Romney $5M in personal taxes

U.S. President Barack Obama (l) and Republican presidential candidate Mitt Romney (r). PHOTO/File

To see where the presidential candidates stand on taxing the rich, just look at how they'd tax themselves. Under his own proposal, Mitt Romney would pay half what he would under President Barack Obama's tax plan. For a man of Romney's means, that could save almost US$5 million a year.

For Obama, not as loaded as Romney but still well-off, losing re-election could provide a tax windfall.

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