WASHINGTON (Reuters) - President Barack Obama released tax forms on Friday that reveal he will probably pay a higher tax rate on much lower income than likely Republican opponent Mitt Romney in 2011, adding fuel to a Democratic election-year effort to raise taxes on the rich. Obama and his wife, Michelle, paid an effective tax rate of 20.5 percent on income of $789,674 last year, the White House said. Romney has estimated he will pay a 15.4 percent tax rate on income of $20.9 million. ...
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April 14th, 2012
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