US presidential runner Gingrich releases tax returns

11:17 am | Friday, January 20th, 2012

Newt Gingrich. AP Photo

NORTH CHARLESTON–Republican hopeful Newt Gingrich released tax details for 2010 on Thursday showing he handed over a third of his income, in a deliberately timed move against rival Mitt Romney.

“The income tax return shows that for 2010, Speaker and Mrs Gingrich owed federal taxes of $994,708 on an adjusted gross income of $3,142,066,” said a statement published on Gingrich’s website.

Gingrich released the figures as a debate among Republican White House hopefuls candidates got under way in South Carolina where voters on Saturday will pick their nominee to take on President Barack Obama in the November elections.

The disclosure of the tax return, which amounted to 32 percent of income, contrasts with frontrunner Romney’s stance — he has not yet released details of his return, noting only that he paid around 15 percent in recent years.

Gingrich’s disclosure led CNN debate host John King to ask Romney, who is thought to have amassed a personal fortune of around $250 million during his time as a venture capitalist, when he would publish his tax return.

“When my taxes are complete for this year,” the former Massachusetts governor replied.

“And I know if I’m the nominee, the president’s going to want to insist that I show what my income was this last year and so forth.

“When they’re completed this year in April, I’ll release my returns in April and probably for other years as well,” he added.

Libertarian candidate and Texas congressman Ron Paul won applause when he chipped in that he had not posted his returns and would not do so.

“Hadn’t thought it through,” he told King. “I don’t have an intention of doing it. For a different reason. I’d probably be embarrassed to put my financial statement up against their income.”

Former senator Rick Santorum added: “They’re on my computer and I’m not home… And there’s nobody at home right now till I get home. When I get home.”

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Tags: Government , Politics , Republican , US presidential elections

Bikyo

Our politicians should take heed. The elections won’t be until November and the candidates have started releasing to the media their income tax returns. Here in Pinas you have to go through impeachment to get a copy of this “sacred” document and when you get it, probably it is not even an honest income tax return. Only in the Philippines!
http://pulse.yahoo.com/_EXFI4EUGM23PQ4FMQKLVH36OXI Jose

The income tax isn’t the SALN. The income tax returns report on how much a person makes, not what their properties are.

And in any case, anyone trying to uphold this as some example for Philippine politicians should take note that Gingrich did this primarily to attack Mitt Romney.

Bikyo

Understood; but what I’m driving at is US politicians VOLUNTARILY release their income tax returns; it is not compulsory. Financial disclosures (SALN) are accomplished once they assume office if elected; they are mandatory. Tax returns are confidential, but public officials’ financial disclosures are not because of FOI Law in US.

http://pulse.yahoo.com/_EXFI4EUGM23PQ4FMQKLVH36OXI Jose

Fair enough, but in this case, again it’s all politics, and Gingrich attacking Romney.

In any case, I think we can both agree that the SALN should certainly be mandatory (and in the public record) here in the Philippines.
IanAlera

Jut in case you do not know.

Filing of SALN in the Philippines has already been made mandatory for all public officials since a long time ago, and it’s just common sense that what you file as public document forms part of public record. To point out whether it should or should not be mandatory without explanations is nonsensical, because it is already mandatory.
http://pulse.yahoo.com/_EXFI4EUGM23PQ4FMQKLVH36OXI Jose

Everyone please ignore Ian. He’s somehow decided that following me around on the internet for the sole purpose of insulting me is the best use of his time ever since I owned him in a debate on the RH Bill. For the record, I’ve actually challenged him to a debate on the RH Bill, which he has been too much of a coward to accept.

He of course has a history of trolling, and has actually admitted to doing so, and I’ve wasted more than enough time trying to reason with him, so I’m just going to ignore his trolling and report his posts when appropriate.

If anyone else has any questions, I’ll be happy to address them.

IanAlera

Replying to Jose

You are an idiotic troll. You make insulting replies to whatever comment that you cannot reasonably refute.

Stop making nonsensical posts, if you do not want people to comment on it.
————

And what about the rh bill? WHO OWNED WHOM? Stop deluding yourself.

Just go back to our debates and read again. People can decide for themselves who owned whom. — ‘DOH proposed nearly P14 billion to fund RH bill in 2012’

US presidential runner Gingrich releases tax returns

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