FOXNews.com: Campaign says Romney's average effective tax rate was 20 percent over 2 decades

FOXNews.com FOX News Network - We Report. You Decide. // via fulltextrssfeed.com

Campaign says Romney's average effective tax rate was 20 percent over 2 decades Sep 21st 2012, 17:50 Mitt Romney's campaign, in its latest attempt to respond to calls to release more years of tax returns, announced Friday that the Republican candidate averaged a 20 percent effective tax rate for the years in question and never paid less than 13.66 percent. But the campaign is sticking by the candidate's vow not to release more than his last two tax returns, which critics have made into a potent campaign issue. Romney plans to release his final tax return for 2011 on Friday. That document will show the Romneys paid $1.9 million in taxes on nearly $14 million in income, mostly from investments, giving them an effective tax rate of 14.1 percent, the campaign said in a blog post. The Romneys donated about $4 million to charity in 2011, or about 30 percent of their income, according to the campaign, which plans to release the documents at 3 p.m. ET. Romney previously released his 2010 tax return but no others. Democrats have called on Romney to release previous years' tax returns, as other candidates have in past elections, and some have suggested Romney is trying to cover up years when he may not have owed or paid any taxes. But the campaign affirmed Friday that "in each year" from 1990 to 2009, "the Romneys owed both state and federal income taxes," with the federal effective rate averaging 20.2 percent. Annual charity giving averaged 13.5 percent during that period, the campaign said.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions