During an interview with Republican presidential contender Mitt Romney, Hugh Hewitt asked the following:

HH: And Governor, last question, John Hood and others, John Hood at National Review, said when your taxes came out, there was an opportunity to point out to people this nonsense about effective rates, that all that money that you’re paying taxes on at the investment rate had been taxed before. Did you miss an opportunity to teach people about how we tax and tax and tax again?

MR: Well actually, each interview I’ve had, I have said that exact point. I was on last night with Brian Williams on NBC, and he said gee, your tax rate’s only 15%. And I said no, actually, you realize that there are two levels of taxation on capital. One is at the corporate level, where it’s taxed at 35%, and the other’s at the individual level in dividends, where it’s taxed at 15%. So the combined rate is 45-50%. And I’ve said the same thing with Sean Hannity a little earlier on Fox. So every occasion I get, I remind people of that fact. It’s going to be a constant battle, of course, because the Democrats, and interestingly, my own Republican opponents, Speaker Gingrich, they go after me for paying a low tax rate. It’s like guys, don’t you understand it’s being taxed once at the corporate level first? So I’ll keep on handling that and battling that, Hugh.