WASHINGTON — As President Obama and likely Republican presidential nominee Mitt Romney battle over tax fairness and who has the lowest income tax rate, it turns out they both pay less in taxes than the average American who earns much less.

Obama and his wife Michelle reported an adjusted gross income of $789,674 in 2011 and paid an effective tax rate of 20.5%, or $162,074. They donated $172,130, about 22% of their adjusted gross income, to 39 different charities, the White House said.

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