Romney Releases Two Years' Worth Of Tax Filings
During Monday’s debate in Tampa, Fla., Romney said his there would be no surprises in his tax returns. The documents showed Romney made $21.7 million in 2010 and $20.9 million in 2011 with most of the money coming from investments.
The Washington Post reports:
“The Romneys gave away $7 million in charitable contributions over the past two years, including at least $4.1 million to the Mormon Church. Romney’s family has for generations been among its most prominent members.
They sent somewhat less to Washington over that period, paying an estimated $6.2 million in federal income taxes. According to his 2010 tax return, Romney paid about $3 million to the IRS, for an effective tax rate of 13.9 percent.
For 2011, Romney estimates that he will pay about $3.2 million, for an effective rate of 15.4 percent. That’s in line with his earlier estimates, but sharply lower than the rates paid by President Obama and Romney’s closest Republican rival, Newt Gingrich.”
The Washington Post also reported tax documents were amounted to close to 550 pages and the newspaper received an advance copy from Romney’s campaign.
The campaign is reportedly expected to go into further detail about the tax returns later on Tuesday.
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