CNN and Edward McCaffery paid an effective tax rate of 14.1 % in their 1992 returns . Ann Romney : Raising the tax rate wo n't affect the very rich . He says very rich Republicans do not have to show any `` income '' on their tax returns . McCaffery : Tax spending , rather than work , and the rich will have to pay more taxes .
Mitt and Ann Romney paid an effective tax rate of 14.1 % in their 2011 returns . Edward McCaffery : Raising the tax rate wo n't affect the very rich . He says very rich Americans do not have to show any `` income '' on their tax returns . McCaffery : Tax spending , rather than work , and the rich will have to pay more taxes .