Romney paid 14% effective tax rate in 2011

[SarasotaRepub]

By Jeanne Sahadi @CNNMoneySeptember 21, 2012: 4:50 PM ET


NEW YORK (CNNMoney) -- Mitt Romney made $13.7 million last year and paid $1.94 million in federal income taxes, giving him an effective tax rate of 14.1%, his campaign said Friday.
His effective tax rate was up slightly from the 13.9% rate he paid in 2010.


LINKY

[Bailey]

The left and the MSM,(I know one of the same) wont be happy till he releases 10 years of returns.

[Starbuck]

The left and the MSM,(I know one of the same) wont be happy till he releases 10 years of returns.

.....And pays 100% income tax.....Wait, that wouldn't make them happy, either. After all, he served as governor and never accepted a salary, and served as Director of Olympics with no salary, and that doesn't satisfy them.

[Hawkgirl]

The media is going to spin this. He pays la lower percentage than most middle class tax payers.

[noonwitch]

The media is going to spin this. He pays la lower percentage than most middle class tax payers.

It's lower than what I pay.



All my state, local and federal taxes (including SS deductions) add up to about 33% of my paycheck. Even though I'm a government elite and all, I only make about $52,000 a year.

[Odysseus]

It's lower than what I pay.



All my state, local and federal taxes (including SS deductions) add up to about 33% of my paycheck. Even though I'm a government elite and all, I only make about $52,000 a year.

That 14% added up to several million dollars in taxes, not to mention a greater sum in the form of charitable donations. He apparently gave about 30% of his income to charity, as opposed to 5% for the Obamas and .1% for Biden. Of course, Obama is very generous with the tax money that he got from Romney, but that's another issue.

[Bailey]

It's lower than what I pay.



All my state, local and federal taxes (including SS deductions) add up to about 33% of my paycheck. Even though I'm a government elite and all, I only make about $52,000 a year.

Let me know when you pay 2million a year, then you have a right to complain about what he pays.

[NJCardFan]

It's lower than what I pay.



All my state, local and federal taxes (including SS deductions) add up to about 33% of my paycheck. Even though I'm a government elite and all, I only make about $52,000 a year.

Wow, aren't we gleaning what we want. Do me a favor. Go back read the article and pay close attention where it says FEDERAL TAX. Then further down the article it says where the Romney's paid state and local taxes as well. And you "only" make $52K a year? Holy shit are you arrogant.

[Starbuck]

It's lower than what I pay.



All my state, local and federal taxes (including SS deductions) add up to about 33% of my paycheck. Even though I'm a government elite and all, I only make about $52,000 a year.

I'm sure that's true. But what you say will be true no matter which tax plan is taken.
You will always pay a greater portion of your income for taxes on food, gasoline, clothing, real estate taxes, and almost anything you can name. A greater portion of your income is subject to social security, too.
It's all true.
But, so what? Romney worked for 4 years as governor of Mass, and accepted no salary; isn't that really a form of tax payment for him? He just left it all in the state treasury.

This endless spinning of who pays what percentage of what is a distraction from the question before us, which is, "what is best for this country, and what will enable us to regain fiscal footing"?

[RobJohnson]

It's lower than what I pay.



All my state, local and federal taxes (including SS deductions) add up to about 33% of my paycheck. Even though I'm a government elite and all, I only make about $52,000 a year.

Tax deductions are legal, he did not even claim all he could.

So if you pay in 33%, how much do you get back? I'm pretty sure the Romneys paid the max into Social Security all those years he was working...Have you given 4 million to charity yet this year?