Mitt and Ann Romney paid an average effective federal tax rate of 20.2% and owed both state and federal income taxes every year over the 20-year period ending in 2009, the GOP presidential nominee’s campaign said on Friday in response to nagging questions about his tax returns. (SEE DETAILS HERE)
Brad Malt, the trustee of the Romneys’ blind trust, said in the post that the Romneys’ lowest annual effective federal personal tax rate was 13.66% over the 20-year period. The couple gave to charity an average of 13.45% of their adjusted gross income.
The total federal and state taxes owed plus the total charitable donations deducted represented 38.49% of total adjusted gross income.
Malt also said Mitt and Ann Romney paid 100% of the taxes they owed during the 20-year period covered by the PWC letter.
The disclosure comes after the Romneys filed their 2011 tax return with the IRS on Friday morning.
The couple paid $1,935,708 in taxes on $13,696,951 in income, which was “mostly” investment income. Their effective tax rate for last year was 14.1% and they donated $4,020,772 to charity, amounting to almost 30% of their income. (Fox News)
Now, let’s see President Obama’s college records for Harvard University and Columbia College.
The MSM is not reporting on the entire Obama-transcript issue and in particular the nature of an education at Columbia College that makes transferring into the college after two years of college someplace else so incredibly difficult — and rare.
Columbia has a “core curriculum” — a set of classes that every student must take, usually in a student’s first two years. Now, because Columbia has so many required courses compared with other colleges or universities, the school actually discourages transfer students who, like the president, already have two years of college behind them:
INTERNATIONAL TRANSFER STUDENTS-
To be eligible to enroll as a transfer student at Columbia, you must have completed, or be registered for, 24 points of credit (the equivalent of one year of full-time study) at another institution. Candidates with more than four semesters of college coursework elsewhere are not encouraged to apply. Columbia’s academic requirements and institutional policies make completion of all graduation requirements in a reasonable and timely fashion unlikely. If your college or university is not in the U.S. or Canada, please consult the International Transfer Students Web page.