Romney Paid At 14% Federal Tax Rate In 2011, Pegs 20 Year Average At 20%

Republican Presidential candidate Mitt Romney and his wife, Ann, released their joint 2011 tax returns today, showing they paid $1.9 million in federal income tax on $13.7 million in adjusted gross income, a 14% effective tax rate. But they would have paid even less had they claimed all the charitable deductions they were entitled to, according to documents released by his campaign. In a memo to reporters, R. Bradford Malt, a partner at the law firm of Ropes & Gray, LLP, and the trustee Romn...