At the traditional time to release bad news, late in the day Friday, the Romney campaign released his 2011 tax returns. While apparently largely un-newsworthy, the returns were consistent with Romney's assertion that he regularly pays "at least 13% in taxes." In order to achieve that tax rate, however, Romney did not credit the full amount of charitable contributions he made. His campaign posted a statement from a trustee of Romney's finances:
The Romneys thus limited their deduction of charitable contributions to conform to the Governor's statement in August, based upon the January estimate of income, that he paid at least 13% in income taxes in each of the last 10 years.
Observers were quick to note that, by paying more taxes than legally required, Romney disqualified himself from being President, based on his own statement to ABC News in July:
I don't pay more than are legally due and frankly if I had paid more than are legally due I don't think I'd be qualified to become president.