GOP

Clarification: GOP Campaign story

AP News
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Posted: Jan 26, 2012 12:07 PM
Clarification: GOP Campaign story

In a story Jan. 21, The Associated Press wrote that Republican presidential candidate Mitt Romney paid about 15 percent of his income in federal taxes, roughly half the rate paid by millions of middle-class wage-earners. The story should have clarified that millions of middle-class wage-earners pay that high rate on just "some" of their income. On average, families making from $50,000 to $75,000 pay 12.8 percent of their income in federal taxes. However, millions of middle-income families do have some income that is taxed at a rate as high as 28 percent. In 2011, the marginal tax rate of 28 percent began at a taxable income of $83,600 for individual filers and $139,350 for married couples filing jointly