The Associated Press took a look at five years of Democratic U.S. Senate hopeful Michelle Nunn's tax returns, finding that her effective tax rate took a dip last year along with her income as she went on leave from Points of Light foundation.
The couple's total income ranged from $224,500 in 2009 to a high of about $346,000 in 2012. Last year, the couple's total income was just over $191,000, as Nunn took a leave of absence after deciding to run for the Senate seat. That year, they claimed about $68,200 in itemized deductions and paid about $26,000 in taxes, or about 13.6 percent of their total income.
In 2012, the couple claimed about $66,800 in itemized deductions and paid just over $84,400 in taxes, or about 23.5 percent of their total income.
The federal tax filings made available by the Nunn campaign were only the first two pages and did not include more detailed information, such as a breakdown of charitable deductions or capital gains. Both Perdue and Kingston released their complete returns.
The Nunn campaign said the couple made just over $34,000 in charitable contributions over the five-year period, but an annual breakdown was not available.
By comparison on the Republican side of the Senate race, David Perdue paid a 38 percent effective rate over 10 years -- but the rate varied widely along with his earnings. He paid a 9 percent rate in 2010 but 48 percent in 2008. Jack Kingston released five years of returns, showing his effective tax rate to range between 13.76 percent and 16.88 percent.
The GOP opposition research outfit America Rising PAC says Nunn's disclosures are an example of hypocrisy:
"I believe Georgia families are paying too much in taxes. Our tax code is too complicated and there are too many loopholes carved out for special interests that allow those who can afford high-priced accountants to get away without paying their fair share."
In a financial disclosure filed with the Senate, Nunn and her husband listed assets valued between $1.2 million and $3 million. Apparently Nunn was talking about herself when she mentioned "those who can afford high-priced accountants to get away without paying their fair share."
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