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Called and other issues, the theory was gin up support among the democratic party and his supporters to view the republicans, demonize the republicans, and those numbers suggest, you know, some are fiery, still not at the levels they need. chris, thank you. >> you bet. megyn: the president's reelection campaign is trading shots this afternoon with the romney camp over the issue of tax returns. the president released his today. the documents show the obamas earned nearly $790,000 last year, and paid about $162,000 in total taxes. that is an effective federal tax rate of 20.5%. 20.5%. coming up,...

Mitt romney. they are pushing for the buffet rule. which is named for millionaire warren buffet. it turns out based on the president's tax return he probably pays a lower rate than a lot of secretaries. he paid $162,000 in federal taxes. that's an effective tax rate of 20.5%. some independent analysts say that could complicate the democratic argument against mitt romney paying 14%. >> relative to romney the president isn't making all that much. but relative to the majority of mayor cans the obamas would be considered wealthy and they have to show they are in touch with the average american.

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Tdd# 1-800-345-2550 because when it comes to talking, there is no fee. we're back. the white house today released president obama and vice president biden's 2011 tax returns, hoping for another opportunity to paint multi-millionaire mitt romney as out of touch with average americans. president obama earned just under $789,000 last year and paid just over $162,000 in taxes which puts his effective tax rate at 25%. we learned mitt romney filed for an extension but it showed him

♪ ♪ [ flapping continues ] ♪ ♪ [ male announcer ] at nissan, our ideal is innovation. 5 all-new models over the next 15 months, including a completely reimagined altima. welcome to our most innovative year ever. nissan. innovation for all. ♪ the president has put it all out there. his 2011 tax returns are now online for all of us to see. his groet gross adjusted income, more than $789,000. paying $162,000 in taxes. that's a 20.5% tax rate.