Romney's 2011 Tax Returns to be Released at 3 p.m. Friday
Advanced information is that he paid 14.1 percent on an income of $13.7 million in 2011.
USA Today is reporting that Mitt Romney's 2011 tax return will be posted on the Internet today. Advance information is that he and his wife paid $1.9 million in taxes on about $13.7 million in income. They donated $4 million, or 30 percent, to charities. That is an effective 14.1 percent tax rate. In order to keep it as high as 14.1 percent, the Romneys reportedly only claimed half of their charitable donations.
In addition, a notorized letter from Pricewaterhouse Coopers reportedly also shows that Mitt and Ann Romney paid both state and federal income taxes for the past 20 years, starting with 1990 and going through 2009. The 2010 taxes have already been released.
The letter is reported to note that the Romneys paid an average rate of 20.2 percent for the 20-year period, with the lowest being 13.66 percent.
Romney has taken flack, a lot of it on local Patch sites, for his time at Bain Capital as well as his refusal to release his taxes.
Do you think this is enough to satisfy reports that Romney didn't pay taxes or does he still need to release the last 20 years?