Romney paid 14% effective tax rate in 2011
September 21st, 2012
02:05 PM ET
2 years ago

Romney paid 14% effective tax rate in 2011

New York (CNNMoney) – Mitt Romney made $13.7 million last year and paid $1.94 million in federal income taxes, giving him an effective tax rate of 14.1%, his campaign said Friday.

His effective tax rate was up slightly from the 13.9% rate he paid in 2010.

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Filed under: 2012 • CNNMoney.com • Mitt Romney • Taxes
soundoff (77 Responses)
  1. Donyelle

    @Rick..that happened because of the books the President wrote....remember? He invested that money into....wait for it....US TREASURY BONDS! You know...Betting on the US? No tax shelters...just good old fashion investing for their girls! Please remember that the now President Obama worked for the FIrst Lady! She was the bread winner in that family. Neither one of them inherited money.

    September 21, 2012 02:36 pm at 2:36 pm |
  2. Joan in MS

    This man is losing this election, and will bring down the whole GOP house (and senate) of cards ...

    September 21, 2012 02:37 pm at 2:37 pm |
  3. jk from MN

    2 years is not enough, Mr Romney.

    September 21, 2012 02:37 pm at 2:37 pm |
  4. Donyelle78

    @Rick..that happened because of the books the President wrote....remember? He invested that money into....wait for it....US TREASURY BONDS! You know...Betting on the US? No tax shelters...just good old fashion investing for their girls! Please remember that the now President Obama worked for the FIrst Lady! She was the bread winner in that family. Neither one of them inherited money.

    September 21, 2012 02:38 pm at 2:38 pm |
  5. Laura, Boston

    You donkeys are just that!

    The man paid just about 2 million dollars in taxes to the IRS plus to gave 30% to charity I am sure when you add up what Obama and Biden gave, it is a lot more. I don't begruge him for paying 2 million dollars in Fed and State. That is more in one year than I will ever make in my lifetime. Maybe when he becomes President, he will give us some tips so we can make more. Better than Obama wanting us to be on Food Stamps and Welfare!

    September 21, 2012 02:39 pm at 2:39 pm |
  6. v4865

    He's like a DROWNING MAN CLINGING TO A STRAW...
    TOOL LATE THE 47% STILL PAYS MORE THAN YOU ..HE'LL BE ON FAUX ENTERTAINMENT
    LATER THINKING HE'S SCORE ONE WITH THE AMERICAN PEOPLE ..NOT NOW NOT EVER!!!

    September 21, 2012 02:39 pm at 2:39 pm |
  7. myviewis

    Thomas Guerra
    The wealth IS being redistributed... UPWARDS.
    -----------------------------

    If we're going to see this from the Democratic point of view on "Redistribution of Wealth" than you are already participating in wealth being redistributed to you because you are bound to be above someone else that makes less money than you. If you make more money than the guy next to you at work already you are priviledged over him and you most likely are paying less tax rate than him.

    Redistibution of Wealth applies also to small salaries not just millionaires ( if you use the Democrat formula).

    September 21, 2012 02:39 pm at 2:39 pm |
  8. Lindsay

    good job mittens.....now how about releasing about 7 more? can you do that for us? i know you'll be super busy getting ready for the butt-kicking you're going to get in the debates, so you might not get around to it.

    September 21, 2012 02:39 pm at 2:39 pm |
  9. ST

    Romney, can you hear this: "we are the world, we are the children, who want to see how much Mitt has contributed to the world we are living on, it seems he avoided his responsibility and thought we can not improve the world, but still he wants to lead us"!!!! Mmmmmmh! can we the rest of world allow him to do so? A big question mark!

    September 21, 2012 02:40 pm at 2:40 pm |
  10. Tish

    A little too late I say. I still smell a rat

    September 21, 2012 02:45 pm at 2:45 pm |
  11. rs

    That is less than half what I pay for my very middle-class income. THAT is the GOP's economic and class warfare in action. Remember- he wants to cut his own tax rate by another 10 points and raise mine (and yours).

    September 21, 2012 02:45 pm at 2:45 pm |
  12. Anonymous

    Rick McDaniel

    More importantly, he paid 1.9 MILLION dollars.
    ----------

    Yeah, well, he did make 13.7 million.

    September 21, 2012 02:47 pm at 2:47 pm |
  13. rs

    Rick McDaniel-
    On a percentage basis- Mr. Romney pays far less in taxes than anyone left in the so-called middle class- the very group he intends to RAISE taxes on while cutting his own (and in fact, Mr. Obama's too) if elected. As a nation we cannot "afford" the rich, if they keep wanting bigger and bigger tax cuts that the rest of us must offset.
    Back to Eisenhower's top tax rate- 85%

    September 21, 2012 02:49 pm at 2:49 pm |
  14. ABCorrection

    Well, you gotta give it to Obama on one thing – he's got you all so obsessed with what one man's tax rates were years ago, while the country and world around us is falling apart.

    September 21, 2012 02:51 pm at 2:51 pm |
  15. Ms Edyeluv

    A little to late, Robme. We True Americans 47% ++ have made up are mind -GAME OVER, YOU LOSE -LOSER. Plus we pay more in taxes then you. Showing only 2yrs of taxes doen't make you any more transparent, regardless your Repug Campainge says about you paying your taxes for 20 yrs. That which you have released and that which you continue to conceal says your not open and trustworthy to the American People, and that your secrecy taxes has all been put through the Wringer of Loopholes. And futhermore, we recognize all the Repugs, yours(Robmey) and Lyin Ryans

    September 21, 2012 02:52 pm at 2:52 pm |
  16. CB FL

    "you people" would not be smart enough to understad how hard it is to be rich.

    September 21, 2012 02:53 pm at 2:53 pm |
  17. Jakjak

    He paid 1.94 Million in taxes and gave almost 30% to charity. How many of you can say the same.. And I do not know anyone, no matter what income bracket, who doesn't try to take advantage of getting as many deductions as possible!

    September 21, 2012 02:55 pm at 2:55 pm |
  18. Andrea Sharp

    This doesn't mean a thing to me. Next time the common american get audited by the IRS can we turn in a letter from our accountant? Or would you charge the regular american for tax evasion for not filing taxes on money kept outside the U.S. Romney is full of crap and he can't be trusted

    September 21, 2012 02:55 pm at 2:55 pm |
  19. truth hurts

    paid $1.94 million in federal income taxes
    ==============================

    OUCH!! Can you imagine how many thousands of tax freeriders he is paying for with that massive federal tax payment?!!
    And I'm sure there was millions more in state, local, property and sales taxes.

    THANKS Mitt for helping pay for the running and defense of this country for not only you but for many, many others that pay nothing.

    September 21, 2012 03:02 pm at 3:02 pm |
  20. Fair is Fair

    So much for Rudy NYC's conspiracy theory.

    September 21, 2012 03:04 pm at 3:04 pm |
  21. 23 from Texas

    He pays no more, and no less than the law says he should. That’s why he hires tax experts, to keep him out of trouble with the IRS. My investment income is taxed at the same rate as his is. And if he earned wages (which would be small comparing to his investment income) e would be paying the 35% rate on THAT income ONLY. Grow a brain people; this is (un)common sense!

    September 21, 2012 03:04 pm at 3:04 pm |
  22. Len

    Rick,

    You sir need to do some homework.

    September 21, 2012 03:04 pm at 3:04 pm |
  23. Larry L

    I'm a disabled veteran, retired Army, one of the 47% that Romney considers too useless to deserve his support, and I paid a higher rate than Romney.

    September 21, 2012 03:06 pm at 3:06 pm |
  24. truth hurts

    Thomas Baxter - 14% is still less than the 15.3% in payroll taxes (at the normal rate) that most workers and their employers pay and that is before they even begin to add the rate that they pay in income taxes. Therefore, unless you make millions in capital gains or carried interest and your working you almost definitely pay a higher tax rate than Romney since he pays almost nothing in payroll taxes on his 13 million of income.
    ==========================================================================================
    Maybe because they are NOT income from wages Einstein!!! That has only been the tax law forever!! When are the clueless lefties ever going to learn the tax code and why things are taxed the way they are? That money DRIVES OUR ECONOMY!!! Taxe it at high raqtes and it goes to another country. Is THAT what you want? Totally ignorant and clueless.

    September 21, 2012 03:07 pm at 3:07 pm |
  25. ExRepublican

    I am a middle class and I pay 25% taxes why he paying less. I heard the charity was 4 million to his mormon church.
    Why he not releases 10 year taxes Romney is hidding his money in Cayman Island.

    September 21, 2012 03:07 pm at 3:07 pm |
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