Romney Releases 2011 Tax Return

In 2011, Mitt and Ann Romney paid $1,935,708 in taxes on $13,696,951 in mostly investment income, an effective tax rate of 14.1%.

Romney could have paid a lower tax rate in 2011 due to large charitable contributions, but voluntarily limited them — and paid more taxes as a result — to conform to his previous statements that he has paid at least 13% in taxes each year.

Flashback: Mitt Romney told ABC News in July that “frankly if I had paid more than are legally due I don’t think I’d be qualified to become president.”