Saturday, September 22, 2012

Romney's Tax Rate Equal to What Obama Paid Last Year

Weekly Standard -- According to a statement released by the Romney campaign that summarizes the rate of taxes the Republican presidential nominee paid between 1990 and 2009, the rate at which Mitt Romney paid taxes is approximately equal to what President Barack Obama paid last year.

"Over the entire 20-year period, the average annual effective federal tax rate was 20.20%," the Romney campaign states, based on a summary of Romney's taxes from the firm Price Waterhouse Cooper.

President Obama's tax rate in 2011 was only marginally higher, at 20.5 percent.

The president and first lady reported a joint adjusted gross income of $789,674 last year and paid $162,074 in federal taxes, or about 20.5%, according to the tax return released Friday by the White House. That income keeps the Obamas in the top 1% of taxpayers," the Los Angles Times reported earlier this year.

Blog author's comments - Mitt Romney released his 2011 tax returns yesterday. He paid $1.9 million in taxes. What did not make many of the news reports is that the Romneys gave just over $4 million to charity - 30% of their income. Barack Obama "The Great Redistributor" donated just 1-5% to charity before running for president.

Time To Show Us Your Tax Returns Harry Reid

What's The Chance Harry Reid Will Apologize For His Lies About Mitt Romney?

No comments: