Mitt Romney’s 14.1 percent effective federal tax rate in 2011 would’ve been lower if he’d deducted all of his charitable contributions from his nearly $13.7 million in income. But after estimating that he paid at least 13 percent of his income in taxes in each of the last 10 years, Romney opted not to deduct nearly $1.8 million worth of charitable contributions last year to artificially lift his tax liability.You climb into bed with a multimillionaire who won’t show you his tax returns, you’d hope he could be honest at least the one time he spreads his 1040s open for you.
So what would Romney’s effective tax rate have been if he’d deducted all of his charitable donations? About 12.2 percent.
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