Romney Releases 2011 Tax Returns, Summary of Last 20 Years

Republican presidential candidate Mitt Romney released his 2011 tax returns on Friday, months after both critics and supporters began calling for him to do so. His campaign made the announcement on its official website.

Also included with the disclosure of his and wife Ann's 2011 tax returns was a letter from PriceWaterhouseCoopers, attesting to the fact that the Romneys have paid taxes every year for the last two decades. Sen. Harry Reid and other critics had alleged in the past that the Romneys may not have paid any taxes in recent years.

Here are some of the key numbers to come out of the disclosure of Mitt and Ann Romney's 2011 tax returns on Friday and the letter from PriceWaterhouseCoopers.

14.1: The percentage of the Romneys' income that they paid in taxes for 2011. That percentage equaled out to approximately $1.95 million, according to the official returns released on the candidate's website.

13.7: The amount, in millions, that the Romneys earned in investment income in 2011.

4: The amount, in millions, that the Romneys gave last year in charitable donations. They claimed deductions for $2.25 million.

13.66: The lowest percentage rate that the Romneys were taxed at between 1990 and 2009, according to the summary letter from PriceWaterhouseCoopers. The letter stated that the Romneys' average tax rate during that 19-year period was 20.20 percent.

13.9: The percentage that the Romneys paid in taxes on their 2010 tax returns, which were released by the campaign back in January of this year.

38.49: The percentage of the Romneys' total income during that same 19-year period that was consumed by federal taxes, state taxes, and charitable donations, according to the letter from PriceWaterhouseCoopers.

15: The percentage at which capital gains and dividends are taxed. Investment income is taxed at a lower rate than regular paid wages, which are taxed at an average of 35 percent, according to a report by USA Today.

323,416: The amount that Romney's running mate, Paul Ryan, claimed as income on his 2011 tax returns, which were also released by the campaign on Friday. Ryan and his wife Janna paid $64,674 in taxes for 2011, which equaled out to an effective tax rate of approximately 20 percent.

Source: http://news.yahoo.com/romney-releases-2011-tax-returns-summary-last-20-220600591.html

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