[finiter]

Help me figure this out. Romney earned $13.7 million and paid $1.94 million in taxes. That's 14% (1.94/13.7), but you're saying doesn't account for the charitable donations. So then the formula would be 1.94/(13.7-4), right? A 20% rate?

[ericd]

That would be the top federal tax rate on long term capital gains, so sounds correct.

[jacobr1]

presto: the top cap gains rate is 20% once you hit the 39.6% tax bracket (for income).

[presto8]

The top federal rate on long term capital gains is 15%.

[smsm42]

That sounds good, yes.