Romney Releases 2011 Taxes; Gave $4 Million To Charity, Paid 14.1% Effective Rate (A Rate Significantly Reduced By His Huge Donations to Charity)

From Ace

He gave 30% of his income to charity in 2011.

- In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income.
- The Romneys’ effective tax rate for 2011 was 14.1%.
-The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.
-The Romneys claimed a deduction for $2.25 million of those charitable contributions. The Romneys’ generous charitable donations in 2011 would have significantly reduced their tax obligation for the year. The Romneys thus limited their deduction of charitable contributions to conform to the Governor's statement in August, based upon the January estimate of income, that he paid at least 13% in income taxes in each of the last 10 years.

Joe Biden, by comparison, gave an average of $369 per year before people started noticing. I think he might have upped this to the low thousands, just to avoid people noting that his "heart" is not nearly as large as he claims.

You know what liberals are claiming now? That he paid too much in taxes, deliberately, to keep his effective rate up.

Go read the whole thing.