Mitt Romney and his wife, Ann, paid an effective tax rate of 14.1% for 2011—roughly in line with other recent years—the campaign said in a blog post aimed at defusing criticism of the wealthy candidate.
The 2011 return reportedly will show that the Romneys paid $1,935,708 in tax on income of $13,696,951 for 2011, most of it investment returns, the campaign said. Investment income often is subject to special low tax rates; the current top rate for capital gains and dividends is 15%.
The campaign also released a letter from accountants reviewing the Romneys’ taxes during the 20 years between 1990 and 2009. In a summary, the campaign said that in each year during the 20-year period, the Romneys owed both state and federal income taxes, and paid an annual effective federal tax rate of 20.2%. The Romneys’ lowest annual effective federal personal rate during the period was 13.66%, the campaign said.
The letter from the accountants also shows that over the 20 year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income. Over the period, the total of their federal and state taxes plus the total charitable donations amounted to 38.49% of their adjusted gross income.
Good report Gov. Romney—nothing to be ashamed of.
How much money does Harry Reid gave to charity?
What a load of crap!
He purposefully did not take all the charitable deductions to which he was entitled for his 2011 taxes in order to keep his tax return from falling below a threshold that would falsify an earlier assertion that he’d never paid lower than a 13 percent tax rate. He increased his tax bill by several hundred thousand dollars and paid taxes he didn’t have to on nearly two million dollars. What a self-serving aristocRAT he is. How many people can afford to pay an EXTRA “several hundred thousand dollars” in taxes? And he only did that because he knew people were watching.
The choice to not take the deduction allowed Romney to inflate his tax rate to 14.1 percent. After the election you can bet that he will recoup that money. When Obama trounces him at the polls in November Romney will be able to file an amended return that would require the IRS to cut him a substantial check.
Mittens once again proves he will say and do anything to get elected. He has no ethics!
You must be kidding! Romney effectively chooses to make a donation to the United States of America and you call him unethical? Are you retarded?
Unethical would have been committing to pay 13% and then paying only 9%. Mitt contributed more to the USA in 2011 than Obama and Biden paid in tax and you think that is unethical. You need to examine your ability to think. You also need to remove class envy from your mind. It is distorting you view of the world.
How about Obama’s college records and twenty years of tax records!!!!
I wonder what ole “guilty until proven innocent” Harry Reid has to say now. After all, he had it on good authority that Mitt had not payed any taxes in 10 years, and the lamestream media was only too willing to back him up!
Nothing will come of it though because the people who participated in this public lynching of Romney do not have any credibility to lose. Only fools listen to anything they have to say. Their so called “news” is nothing but agenda driven propaganda.
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Harry Reid is a panderer and an intentional liar. He basically committed fraud against Romney. I hope he gets prosecuted for it.
He made his accusation on the floor of the Senate where he is immune from prosecution… Reid will not release his full tax returns because he does not want us to see the massive wealth he has accumulated from legally trading on inside information as a US Senator…..
Alright Harry, either admit you made it all up out of whole cloth, or produce the names of the “good authority”!
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