What you need to know about Ohio Politics and Policy
· September 21, 2012
The average Ohioan pays a higher tax rate than Mitt Romney
Mitt Romney’s campaign put out a statement today announcing that the candidate had filed his 2011 taxes and would make the return public.
According to the statement, Romney earned $13.7 million in income in 2011, primarily from investments. He paid an effective tax rate of 14.1%.
This is in stark contrast to the average working Ohioan. According to research we conducted in partnership with the Center for American Progress, in 2008, the average Ohioan reported earning $49,043 and paid an effective tax rate of 21.5%.
President Obama reported paying a tax rate of just over 20% on $790,000 in income when he filed his taxes in April.