No income from wages; he'll pay 15.4% on last year's income
(NEWSER) - Just hours after debating tax rates during the GOP debate in Florida, Mitt Romney released his tax returns, revealing that he collected $20.9 million in income last year, and $21.7 million the previous year—nearly all of it in profits, dividends, or interest from investments. None came from wages, reports the Washington Post . He estimates he'll pay $3.2 million in federal taxes for a tax rate of 15.4% for last year's income. The previous year, he paid $3 million in taxes at a 13.9% rate. His tax rates are below most American wage earners because his income isn't from wages, notes Reuters . The Romneys gave away $7 million in charitable contributions the last two years, including $4.1 million to the Mormon church. More»