Romney releases 2011 taxes; plus 20-year tax summary

Washington - Mitt Romney released his 2011 tax returns Friday, showing he paid $1.9 million in income taxes. The media has hounded Romney to release the document throughout his campaign; now he has released a 20-year summary.

The Republican earned $13.7 million making his effective tax rate 14.1 percent, higher than his 2010 rate, according to a Boston.com report. In addition, The Romneys donated $4 million to charities and claimed a $2.25 million deduction. But Romney is also releasing a prepared summary of his tax returns for the past 20 years, or from 1990 through 2009. The summary conducted by PricewaterhouseCoopers shows the Romneys paid their federal and state income taxes for the past 20 years. Over the 20-year period, Romney paid an average 20 percent of his income to government taxes. Mr. Romney will have his 2010 income taxes posted online in full by 3 p.m., according to the report.