UC Berkeley professor: Romney is in the top 0.0025%

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Mitt Romney

As the race for the Republican presidential nomination heats up, Mitt Romney’s wealth has become a hot topic of debate.

But exact figures on the size of Romney’s income have remained elusive — until now.

This week, Romney disclosed income of $21.7 million in 2010 and $20.9 million last year, according to The Washington Post.

And according to the calculations of a UC Berkeley professor, Romney’s staggering income places him well within the top 1 percent.

In fact, Emmanuel Saez, a campus professor of economics, told The Wall Street Journal that Romney’s income puts him in the top 0.0025 percent income bracket. Saez also said there are at least 4,000 families that make more than Romney does.

J.D. Morris is the university news editor.