Romney's Tax Rate Equal to What Obama Paid Last Year
3:09 PM, Sep 21, 2012 • By DANIEL HALPER
According to a statement released by the Romney campaign that summarizes the rate of taxes the Republican presidential nominee paid between 1990 and 2009, the rate at which Mitt Romney paid taxes is approximately equal to what President Barack Obama paid last year.
"Over the entire 20-year period, the average annual effective federal tax rate was 20.20%," the Romney campaign states, based on a summary of Romney's taxes from the firm Price Waterhouse Cooper.
President Obama's tax rate in 2011 was only marginally higher, at 20.5 percent.
"The president and first lady reported a joint adjusted gross income of $789,674 last year and paid $162,074 in federal taxes, or about 20.5%, according to the tax return released Friday by the White House. That income keeps the Obamas in the top 1% of taxpayers," the Los Angeles Times reported earlier this year.