Mitt Romney Paid $3 Million in Taxes in 2010, Returns Show
(BOSTON) -- Mitt Romney earned $21.7 million in 2010 and paid nearly $3 million in taxes -- a tax rate of just under 14 percent -- according to documents released by the former Massachusetts governor Tuesday morning.
Romney unveiled his 2010 tax returns and estimates for 2011 amid increasing scrutiny into his financial records and repeated calls by his rivals, and even some supporters, to release his tax information.
The returns showed that Romney earned more than $42 million over the past two years, and paid $6.2 million in taxes during that time period. He gave just a little bit less, about 10 percent, to the Church of Latter Day Saints.
A majority of Romney's income was derived from investments rather than a yearly fixed salary, which is why the former governor paid a lesser effective tax rate than those in his income category.
The returns also showed that Romney and his wife, Ann, gave away $3 million in charitable donations in 2010, including $1.5 million to the Mormon church.
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