Mitt Romney released details of his tax returns this afternoon, which includes a notarized letter from the Romneys’ tax preparer, PricewaterhouseCoopers proving that Mitt Romney did, in fact, pay taxes in the last 20 years.
Here are some of the details from the statement issued by the campaign:
- In each year during the entire 20-year period, the Romneys owed both state and federal income taxes.
- Over the entire 20-year period, the average annual effective federal tax rate was 20.20%.
- Over the entire 20-year period, the lowest annual effective federal personal tax rate was 13.66%.
- Over the entire 20-year period, the Romneys gave to charity an average of 13.45% of their adjusted gross income.
- Over the entire 20-year period, the total federal and state taxes owed plus the total charitable donations deducted represented 38.49% of total AGI.
Senator Harry Reid has spent months accusing Romney of not paying any income taxes, claiming he had a Bain Capital “source.”
“For all we know, Mitt Romney could be one of those who have paid no federal income tax,” Reid said on the Senate floor on Wednesday. “Thousands of families making more than a million dollars a year pay nothing in federal income taxes. Is Mitt Romney among those?”