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President, vice president release tax returns

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    Impact on Obama's push for 'Buffett rule'

  • Duration 2:46
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Good evening I'm -- metallic -- -- is on assignment in Colombia and we'll hear from him just a bit later.

We Begin right here in Washington where the president and vice president made their tax returns public as many of your neighbors put the finishing touches on -- Chief White House correspondent Ed Henry reports the president is using the move is an opportunity to try to embarrass his likely opponent in November.

Joined as he pushes a minimum tax of 30% for the rich President Obama has suggested it's immoral.

For Warren Buffett's secretary to pay a higher tax rate than her boss has just plain wrong the middle class Americans pay a higher share of their income -- taxes.

-- some.

Millionaires and billionaires today we learned the president is being a smaller share of taxes than his secretary.

He and the First Lady had an adjusted gross income of over 789000.

Dollars and an effective tax rate of just twenty point 5%.

Fox news's confirm that's a slightly lower tax rate -- the president secretary and need to Breckenridge -- Even though she earned 95000.

Dollars.

The White House spokeswoman told fox it's exactly why we need to reform our tax code and asked the wealthiest -- pay their fair share.

Though it could complicate his case against Republican Mitt Romney.

The obamas are but would be considered wealthy.

And they have to make sure that they are -- but they're still in touch or at least tried to show that there.

In touch with the average American the -- It's tax rate fell from 26%.

The previous year for various reasons he earned lesson book royalties and the first family gave a whopping 172000.

Dollars to charity.

Benefiting from a big deduction.

President Obama and I believe that -- simply wrong have a system.

And so riddled with loopholes and preferences.

Romney has only released to return for 2010.

Which showed a tax rate of just thirteen point 9%.

An issue that dogged him in Republican debates if I become our nominee I'm.

And what's happened in history as people are released a minute about April of the coming year and that's probably what I do now that he is the presumptive nominee.

-- Obama campaign today turned up the heat.

Demanding the former governor release returns dating back more than a decade.

Romney's campaign fired back.

It's no surprise with the worst job creation record in modern history the President Obama would try to distract Americans from the real issues with a series of side choose.

-- late today the Romney camp revealed that he has now file an extension on -- 2011 to return you'll re release it at some point.

In the next six months he's already released and estimate that he earned over twenty million dollars -- 2011 and paid an effective tax rate of about 15% but the Obama campaign has been pouncing saying he needs a release years of tax returns -- suggesting.

He may be hiding something -- Ed Henry at the White House thank you --

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