Domestic Taxes

Tax center examines candidates’ tax returns

In all, Romney, who has filed a preliminary return, is set to pay a 15.4 percent tax rate for 2011.  (He also paid 0.06 percent of his adjusted gross income in payroll taxes.)  

{mosads}The Tax Policy Center also examined Vice President Biden’s returns (30.5 percent tax rate on $379,000 in adjusted gross income), and that of an average middle-class couple (16.7 percent on almost $70,000).

Democrats have already started a campaign season  push on the so-called “Buffett Rule,” the idea that those making more than $1 million a year should pay a higher tax rate than middle-class families. 

Obama further clarified that rule to mean that those making seven figures should pay an effective rate of at least 30 percent – the same day that Romney announced he paid 13.9 percent on more than $20 million in 2010 income.


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