Sunday, September 23, 2012

Home Politics Media Culture The Romney tax dump: 2011 income of $13,709,608, some charity deductions unclaimed

On the returns, the Romneys listed a total income of $13,709,608 from their investments, on which they paid just under $2 million in taxes for the year.

Romney's effective federal tax rate was 14.1 percent, due to the preferential tax status accorded to income from capital gains over ordinary income. (Ordinary income tax would have been taxed at a top rate of 35 percent.)  Full Post

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