Latest Breaking News
Showing Original Post only (View all)Romney paid 14.1 percent effective tax rate in 2011 [View all]
Source: NBC NEWS
Mitt Romney paid an effective tax rate of about 14 percent last year, his campaign said Friday while also announcing that the Republican presidential nominee had paid an average annual effective tax rate of about 20.2 percent between 1990 and 2009.
Romney made good on its pledge to release his tax returns from 2011 before the election, and went a step further than was previously anticipated in releasing a certified summary of his tax returns over a two-decade period preceding 2010.
While the full tax documents won't be made available until a little later this afternoon, the Republican's campaign said Romney paid more than $1.9 million in taxes on income of about $13.7 million. That amounts to a 14.1 percent effective tax rate; the tax level is lower because most of the Romneys' income comes from investment, which is taxed at a lower rate than employment income.
Read more: http://firstread.nbcnews.com/_news/2012/09/21/14015361-romney-paid-141-percent-effective-tax-rate-in-2011?lite