Mitt Romney Releases 2011 Tax Returns, When Will Reid Apologize for Saying He Did Not Pay Taxes for 10 Years

So much for Harry Reid’s allegations that Romney had not paid taxes …

GOP Presidential candidate Mitt Romney has released his 2011 tax returns. Contrary to Democrat Senate Majority Leader Harry Reid’s slanderous comments, it turns out that Romney did pay taxes. As it turns out, Romney paid $1.94 million in taxes, an effective tax rate of 14.1%. The rate was such because most all of his income was from investments and there fore subject to capital gans taxes, not income tax. Thus, one can say that this money had been taxed twice.  Also, the Romney’s gave over $4 million to charity, 30% of his income. Can Barack Obama or Joe Biden say the same? No, they would rather take your money to spend.

Dingy Harry owes Mitt Romney and America a big aplogy

In short, and as Kevin noted, Romney forked over nearly $2 million to Uncle Sam last year and donated more than $4 million to charity.  He overpaid his taxes by limiting the charitable deductions he chose to claim, which could have driven his obligations to government even lower.  Liberals are now actually complaining that Romney intentionally paid *too much* in taxes to boost his own effective rate, due to his prodigious philanthropic giving.  This line of criticism is downright hilarious. It’s okay to point and laugh.  And what about the last 20 years?

Mitt Romney and his wife, Ann, paid $1.94 million in federal taxes on last year’s income of $13.7 million, for an effective tax rate of 14.1 percent, his campaign said Friday.

That’s slightly above the 13.9 percent rate the couple paid in 2010. Most of the 2011 income was from investments.

Mitt Romney’s campaign did put out a summary Friday by Brad Malt, the trustee of the couple’s blind trust, saying that over the 20-year 1990-2009 period, the Romneys owed both state and federal income taxes and paid federal taxes at an effective annual rate of 20.2 percent

The MSM was salivating and repeating the Obama campaign line making Romney’s taxes a more important distraction than say the +8%  US unemployment rate, the +16 trillion national debt, the 23 million under and unemployed works, the record number of Americans on food stamps and the record high number of Americans who have given up and left the work force. As Town Hall reports, Democrats, Media Get Punk’d: Romney Releases Tax Returns.

In short, and as Kevin noted, Romney forked over nearly $2 million to Uncle Sam last year and donated more than $4 million to charity.  He overpaid his taxes by limiting the charitable deductions he chose to claim, which could have driven his obligations to government even lower.  Liberals are now actually complaining that Romney intentionally paid *too much* in taxes to boost his own effective rate, due to his prodigious philanthropic giving.  This line of criticism is downright hilarious. It’s okay to point and laugh.  And what about the last 20 years?

Of course Barack Obama and his band of lying men will spin this as Romney only paid 14% on his taxes, much less that John Q. Public. However, this is investment money and would have already been taxed once as income gained. Also, how many folks are donating $4 million to charity and 30% of their yearly income? Barack Obama and Joe Biden, not so much. Biden gave a whopping $369.

And what about President Barack Obama and Vice President Joe Biden in the run-up to their 2008 campaign?

USA Today broke it down here. In 2007, the Obamas gave more than $240,000 to charity, about 5.7 per cent of their income. The Bidens gave an average of $369 to charity a year for the decade before he moved to the Naval Observatory – about 0.3 percent of their income. Back in 1997, then Vice-President Al Gore and his then wife Tipper gave $353.

Since becoming Vice-President, Biden hasn’t become much more generous. In 2010, he gave $5,350, about 1.4 per cent of income. That same year, Romney gave some $3 million. The national average is about three per cent.