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World Map / Upcoming Elections / US Presidential election 2016 / US Election Updates / Mitt Romney paid 14.1 percent in taxes in 2011

2016 Presidential Election

US Election Updates - September 22, 2012

Mitt Romney paid 14.1 percent in taxes in 2011

Republican presidential candidate Mitt Romney has released his 2011 tax return, which shows he paid a rate of 14.1 percent.

Romney paid $1.9 million in taxes last year on his $13.7 million of income.

He filed his 2011 return with the Internal Revenue Service on Friday after applying for an extension earlier in the year.

The top bracket for income tax in the United States is 35 percent. However, Romney lives mainly off of income derived from his investments, for which only 15 percent tax is payable.

Critics, including President Barack Obama, have called on him to release more tax returns.

Romney previously released his 2010 tax return, for which he paid about $3 million, equal to a 13.9 percent rate.

The Romney campaign also released a letter from his accountants stating a summary of his returns from 1990-2009. Romney paid an average of 20.2 percent over the period, with the lowest return sitting at 13.66 percent.

According to political analysts, the move appears to be a bid by Romney to shift the focus away from comments he made at a private donor dinner.

In a video secretly filmed earlier this year and published online this week by liberal magazine Mother Jones, Romney slated Obama voters, saying they pay no income tax.

Obama's 2011 tax return showed he paid a rate of 20.5 percent on an income of $789,674.

On average, U.S. middle-income families, who make $50,000 to $75,000 a year, pay 12.8 percent in taxes.