Mitt Romney has disqualified himself from being president. Yes, you read that correctly.
In July, the GOP presidential nominee was asked by ABC News about the tax rate he's paid over the years.
"I've paid all the taxes required by law," Romney responded, refusing to give an exact or estimated rate.
Romney continued: "I don't pay more than are legally due and frankly if I had paid more than are legally due I don't think I'd be qualified to become president."
Here's the video (watch for the "I don't think I'd be qualified" comments at 2:47):
Today, Romney released his 2011 tax returns and it was revealed that he paid an effective rate of 14.1 percent.
The campaign admitted that he limited his deductions for charitable contributions to conform to Romney's August statement, based upon the January estimate of income, that he paid at least 13 percent in income taxes in each of the last 10 years.
That means Romney paid more taxes than legally due and therefore he disqualified himself from becoming president.
Assuming Romney will do the honorable thing and resign as the 2012 Republican presidential nominee, who should replace him on the ticket? Take our poll: