E-mail updates
Follow on Twitter
Subscribe to RSS
Pablo Martinez Monsivais / AP
Former House Speaker Newt Gingrich speaks at the Christ Central Community Center in Winnsboro, S.C. on Wednesday.
WINNSBORO, SC -- Newt Gingrich said Wednesday he paid 31 percent of his income in taxes in 2010.
While continuing across the Palmetto State on his bus tour, the former House speaker told reporters he hopes to release his 2012 tax returns tomorrow, which he said he had been told would reflect the fact that he paid nearly a third of his income to the federal government.
Gingrich's statement comes amid efforts by Mitt Romney to parry attacks by his rivals in Saturday's South Carolina primary after Romney had estimated his effective tax burden at about 15 percent over the past year.
It's part of a broader effort by Gingrich and fellow GOP presidential candidate Rick Perry, the governor of Texas, to put pressure on Romney to release his tax returns immediately. The former Massachusetts governor has been reluctant to release his tax records, but has suggested he might make public his most recent returns in April should he have secured the nomination by then.
In the meanwhile, Gingrich has used Romney's words yesterday to needle the frontrunner in the South Carolina primary, a contest which Gingrich has transformed into somewhat of a last stand for conservatives looking to halt Romney's march to the GOP nomination.
“We are going to name our flat tax the Mitt Romney 15 percent flat tax,” Gingrich told the roughly 150-person crowd today. "My goal is not to raise Mitt Romney's taxes, but to let everyone pay Romney's rate."
This back-and-forth between Gingrich and Romney is just one of a number of heated topics between the two campaigns. Gingrich has been especially eager, too, to highlight Romney's private sector record at Bain Capital, the private equity firm he helped found and which led to most of his wealth.
Gingrich seems to be gaining momentum in South Carolina with just three days until the state primary and the Romney campaign is taking the threat to sealing up a sweep of the early nominating states seriously.
In response to the former speaker's push, Team Romney has begun responding, labeling the former Speaker as an “unreliable leader," and holding a press conference call with campaign advisers, creating a new website, and releasing a new web ad.
“I mean where do they get the gall to run these kinds of an ad?” Gingrich told reporters after being informed of the new Romney campaign ad that says he helped re-elect a Democrat. “Maybe they’re bored. Maybe they have excess money. Maybe they want to throw the kitchen sink.”
The speaker is staking his campaign on the primary Jan. 21 and wants conservatives to rally around him as he believes he is the only candidate who can beat Romney.
“I am trying to get every conservative voter in this state to decide, while they may like somebody else, that historically we need to get the vote for Gingrich,” the Speaker said, noting that it would be “helpful” if either Perry or former Pennsylvania Sen. Rick Santorum dropped out of the race.
South Carolina voters will cast their ballots Saturday.
Leave a Comment:
Clearly Gingrich is not the smartest person in the room.
I think it is odd that Gingrich wants to make points on the fact that Romney is wealthy. Neither of them are hurting financially so I think it is an idiotic ploy. Having said that, I do think that the way they made money will be an issue in any general election. Romney was a Wall Street fat cat and Gingrich was in congress and was able to capitalize on that to make his money. Both Wall Street and Congress will be attacked in Obama's bid for re-election. Given both Romney's and Gingrich's personality, along with all their baggage, it just might be effective.
Obama collected more money from Wall Street in his 2008 election than anyone in presidential political history, so to hear him and his cronies knock Wall Street is throwing stones from his own glass house. Romney didn't make his money on Wall Street, genius, he made it by resurrecting dying mismanaged companies, and deriving profits from them, then either retaining ownership or selling them off. And before you go on a rant, it didn't work with every company they tried it with. In business, you win some and you lose some. Gingrich used his political connections for his wealth, not unusual for politicians. That has gone on forever. I think they are ALL bums... and there should be a lottery to put John Q. Public in office. We can't do any worse selecting candidates that way than we do now..
Mitt's given himself plenty of time to have his accountants complete a tax return that claims LESS in deductions so he can demonstrate that he pays more than 15% in taxes. Btw, did anyone catch his characterization of his speaking fees as a 'small' amount? Interestingly, he sees $374,000 as a small amount. Hmmmmm.
Wish I could call $300k a small amount.
So hmmmm, you lobby for a company that cost hundreds of thousands of people their homes, lobby for them to be bailed out by the taxpayer, get millions of dollars in consulting fee's that were paid with the bail out money, and have to give 30% of it back to the people that gave it to you???? Hmmmmmm. Sounds like a pretty sweet deal to me. Oh, and by the way, I'm not buying it. You may have paid 30% on the money you claimed, but with this tax system and your access to the people and places to hide it, if you really paid 30% of every nickle you brought in, your an idiot.
I'd say Newt needs to get a new Accountant if his effective tax rate is 31%.
31 percent of what was reported!!
The only thing he reminds me of is a certain type of farm animal!!
Newt has never had any affection for the truth before, so why would we believe him now?
Warren....are you implying we should believe any politician?
Lets be honest here. It was wealthy white men that wrote the Constitution, founded this country and set in motion the laws and regulations that would drive us to prosperity and growth, no matter the upbringing or genealogy of a person. That worked fine for about a generation.
Then came the industrial age and owners of the wealth saw how much more could be made from the sweat and labor of the many immigrants and their children looking to start a life here.
Then came the civil war and owners of the wealth saw how much more could made off a militaristic society. Just look at our foriegn adventures since 1866.
Then came the golden age after WWII and owners of the wealth saw how much more could be made if they changed the laws and tax code to benefit themselves. This is where we are today. Today a man born into welath can eiother live a life of luxury just off of invested money he never earned for himself or make even more using the favorable circumstances afforded to him.
an interesting question is how many "millionaires" are truly self made? I think its great that in america, with hard work and a "better mousetrap", you CAN have a high income...but far too many blind supporters of capitalism (see H. Cain for example) confuse "can" and "will". I know far, far more people who have worked hard...but at best have a confortable existance..and in many cases are barely making it.
I have to laugh when people see someone with money and make the blind assumption that they "worked hard" for it. Most of the people with money I know have connections (prior family wealth, political connections, etc) that enabled their income, not "hard work".
I know my personal experience isn't statistically valid, but it would be interesting to compare "hard work" versus "income" when considering "connections"...not that I know how to do it, but I do laugh when people blindly defend wealth and high incomes as intrinsically having come from hard work.
lol, so now the GOP is arguing that capitalism is bad and high taxes are good? This is good, clean entertainment.
And yes, I know they aren't DIRECTLY saying that, but INDIRECTLY by subtly attacking mitt for Bain and 15% taxes its a subtle message.
31 kicks in the arse
THIS JUST IN
Repugnicrites defy years and years of openness by reporting their own figures instead of releasing their tax records to the public.
If the super wealthy Buffit and Romney are paying less taxes than their secretary and The Grinch is paying just 31%, why are republicans fighting so hard to further lower the tax rate for these elitist ?
"What is "Nutty Newt's point?? He paid his taxes! Well good for the GOP "Nutty" little "Buddy!" What does this Mental Hospital Escapee want America?? "Nutty Newt's" doctors are looking for him. Again! He has been on his new very powerful medication called "Newt-Mentum." He has been spewing off at others during his group sessions. Again! What a joke America!
Who cares?? And when are you all going to get it through your heads that we ALL pay a LOT more then whatever the government confiscates from our wages... Let's see... Property taxes (for those unfortunate enough to own a home), taxes and fees on every utility we use, gasoline, and virtually EVERYTHING you buy, because at some point, whether you are taxed directly at the point of sale or not, the ever over reaching arm of the government gets its cut one way or another every time a product or service changes hands. We should just roll the tax system back to what it was when the country was founded, and do the same to all of the government offices and agencies. Of course, that will never happen because we are all sheep just waiting to be sheared....
What the heck is going on here. I see attacks at someone because he is successful. Who do you wanting running this country, someone who is not successful? It appears Newt is coordinating his attacks with the left against Romney. If you wanrt someone who is supporte by the left, then Newt is your man. Jsut check out the advertisments from the left, they are all against Newt. Who was our first disgraces sitting speaker and the first ex-speaker to be forced to retire? Newt
SO BIG F-ING DEAL!!! I paid 28% - actually 16,000 on an annual salary of 45,000 - that leaves me 29,000. (below national poverty level)
I am educated, white collar. I do not dispute my property taxes. (I like firemen, police and safety lights)
I do not need to brag about it like some politicians. WE ALL SHOULD BE PAYING 25 - 50% taxes for the services/military/freedom/amenities WE AMERICANS ALL ENJOY. Like airports, lines in the middle of the highway, rest stops, the judicial system, prisons, street lights in neighborhoods, street lights directing traffic, clean water, air standards, public schools, national parks and the people who run them,
OOOOooooo the list goes on and on..... Who in the hell do you people think should pay for them????? (santa claus)
YOU, not ME????
The POOR, not the RICH????
The CHINESE, not AMERICANS????
SOMEBODY - ANYBODY - E L S E BUT YOU?
Bollox. If you paid that much, pay someone to do your taxes.
Is this above the minimum? Did he contribute extra? Did he forgo deductions? The answer is of course no.
The only thing it shows is what a moron he is and how big a moron he thinks you are. I would rather have a businessman in charge, than someone who probably uses the Clinton trick of donating his used underwear.
Mine too Newt, nearly 30-31%. We must be using the wrong tax preparer. Let's ask Mitt.
If Newt pays 31% it has to be that he draws a large paycheck from some company. His long term capital gains are taxed at 15%. Just like Romney. Just like you. Just like me.
Newt's Picture Caption: You just put both fingers up there and push those cheeks apart...get your tongue in there and bingo! She endorses voting for you....to keep the process going! lol
When these wealthy people get elected we are all in deep trouble. Quit throwing stones at each other.
Hell, Obama's best business buddies (General Electric) paid nothing in corporate taxes and it's legal.
And since when do two wrongs make a right? My old friend Bleeding Gums Murphy explained it like this to me, "Two wrongs don't make a right, unless you're playing jazz."
Main Street America wants a president who can relate to everyone. Also Main Street Americans are fed up with campaign promises which are meaningless rhetoric. Its important for our elected officials to hold a code of ethics, there is to much corruption and hidden agendas in Washington due to greedy lobbying, etc.
Its important to remember that Bush's tax break gave the biggest breaks to the rich. We The People don't have the tax revenue needed to support this country as in days past; the middle class has been dwindling down, no jobs, homes lost, retirement gone, Social Security on the rocks, Medicare and Meidcaid abuses are countless. The Fraud is everywhere. Its sad knowing how the rich take advantage ofAmerican tax dollars by using loop holes, example claiming they own farm land, land that can't be farmed. Hidden bank accounts in the Cayman Islands?
Mitt Romney is a business man, this country isn't't a cut and dry business. The people of Massachusetts said enough was enough, he wasn't re elected as Governor. The Big Dig left Massachusetts with a huge deficit. Bush could have placed caps on Corporate America, he didn't. Bush could have helped prevent the Wall Street speculations, he didn't. Bush could have taken action with Big Banks, he didn't.
The cost of education has become unaffordable, Small Business is falling by the way side, Medical Insurance has become for profit and has become unaffordable. Car dealerships are beginning to look for Used Cars, because Main Street America is being forgotten. I'm not certain Mitt Romney can relate to the reality facing Americans, he appears to relate to a certain few; and with 14 million dollars in his campaign fund, it makes one wonder about his partnerships. Hopefully it will make South Carolina voters wonder as well.
Newton, I hope you become a Career Retiree soon, before the diabetes and heart attack comes.
Thought that up all by your big boy?