Politics

Gingrich Releases Tax Returns, Romney Receives Cheers and Jeers Over Tax Question

In a not-so subtle move intended to tell Mitt Romney it’s now his turn, Newt Gingrich‘s campaign released the former House Speaker’s tax returns. The announcement came during CNN’s debate Thursday evening. The returns confirm the about-30-percent tax rate Gingrich said he paid. The following from Gingrich’s website:

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. $613,517 of the tax amount owed had been previously withheld or otherwise paid, and the couple paid the remaining balance due of $382,734 (which included an estimated $1,543 tax penalty) with their filing.

Included in the wage and salary income reported on Speaker and Mrs. Gingrich’s tax return is $450,245 in combined wages; $41,625 in income from speaking and board of directors fees; $6,853 in rental income from real estate holdings; $11,892 in ordinary dividends; $5,990 in qualified dividends; and $2,525,683 in income from partnerships and S corporations, including the Lubbers Agency Inc. and Gingrich Holdings, Inc.

For the year 2010, the Speaker and Mrs. Gingrich reported $4,184 in net short-term capital gains and $32,541 in net long-term capital losses. Over the course of the year, the couple also contributed $81,133 to various charities, including the Basilica of the National Shrine of the Immaculate Conception.

Meanwhile, rival Romney received jeers for saying he’ll “probably” release more than one year’s taxes.

The question was promoted by Romney‘s father having set a standard for releasing several years’ worth of returns. Romney was asked if he would follow the example.

“I’ll release multiple years. I don’t know how many years,” he said to some boos.

Romney said he would not apologize for being successful, a line that then earned him cheers, and helped him close the answer strong. But it was the second time he has struggled with the tax question in a debate in the past week.

“I obviously pay all full taxes, I’m honest in my dealings with people, people understand that,” Romney said.

Gingrich pressed, “If there‘s anything in there that’s gonna help us lose the election then we should know it before the nomination.”

Mediaite provides a clip of Romney’s response:

A full copy of Gingrich’s tax return can be found here.

Newt Gingrich Releases Tax Returns

 

Comments (48)

1 2
  • charjan
    Posted on January 20, 2012 at 9:20am

    Romney uses his wealth, his earned income to create over 100,000 jobs. He makes more money on his investment so that he can continue the cycle of gaining wealth. This is the way the market works. Now, Obama creates government jobs by enlarging the gov’ts responsibilities. He uses your tax money to do so. If you think that is the manner that helps Americans become successful, vote him back again and again and again. Gov’t becomes the big rich corporation instead of private businesses. The difference is – gov’t has no stake in the money they spend. If they fail, they just tax more or print more. When Romney fails, people loose jobs, he looses money, so the market invests wisely because its their money. For Boeing to stay successful in the airplane market they operate within their budget from sales of airplanes. They do not have the ability to print fiat money to expand. Their investors won’t let them do so. Not our present government, and the investors keep letting them so so…

    Report Post »  
  • CurtisNC
    Posted on January 20, 2012 at 7:32am

    The news is all about the GOP and their money.. It covers up the fact that Tim Geithner is robbing federal employees…
    The Treasury Department is now spending federal pension money in order to keep the bills paid, Reuters reported yesterday.
    But don’t worry. The administration plans to pay the money back after it can start borrowing money from China and Japan again, after the debt ceiling is increased. Feel better?

    Report Post »  
  • loriann12
    Posted on January 20, 2012 at 6:57am

    I thought it was the American dream to work hard all your life, save your money, retire early and live off the interest of your investments? Not that I like Romney, but his being taxed at 15% because it’s investment money is a non-issue. We, in this country, are supposed to reward saving.

    Report Post »  
  • APPAULED
    Posted on January 20, 2012 at 1:32am

    cont #2 – True capitalism made our country the best country in the world. We had good jobs, great wages, great benefits if we worked hard and played by the rules. After their business model changed, everything changed. Massive job losses, reduction in wages and benefits. If you could read the article by googleing “The Dumbest Idea in the World, Maximizing Shareholder Value” you will see why this occured. It was not due to the economy, but it caused the economy to fail. This article is written by a reputable source so we dont have to worry about it being untrue of being propaganda. If you read this article you will see WHY these companys should not get their tax’s cut. It appears that they have no dedication to the country that made them rich. Most people are not mad because someone is rich, I say good for them, (at least I used to) until I found out about this. For years we have been able to be proud of the succesful people in the US, believing that we too could follow their great example and be successful if we dedicated our selves to hard work, had a good work ethic and tried to be everything that God would want for us to be. After reading this article there is no way I would want to follow their example for any amount of money. If anyone has time and can read this article and tell me if I am misunderstanding what they have done, I would really appreciate it. After reading the article I cant understand why the Republican politicians would want to give them (cont)

    Report Post »  
  • PharmD_in_UT
    Posted on January 20, 2012 at 1:31am

    Newt is Rich too… from the way he talks he is a 99%’er not a rich jerk like Mitt. Hypocritical to the core. He should be running the DNC

    Report Post »  
  • APPAULED
    Posted on January 20, 2012 at 1:15am

    I have voted for Republicans for years but at this time I am truley struggeling and I am really made and confused right now. Maybe I am confused and that confusion is what I’m really mad about. I would really really appreciate it if someone, anyone could help me out here. November will be here before we know it and I need to make a decision. May I explain my thoughts without offending anyone? It isn’t my intention to be disrespectul at all. This will be long I I am sure I will have to do seeveral continuations but if anyone can help me I would be most greatful. I have noticed over the past few years that the values of Republican politicians have change. They still claim to be Christians and run on “family values” and that is what always attracted me to the Republican Party. Anymore it seems as though they keep saying they are Christian but their actions don’t support their claim as far as I can tell. Republicans appear to support large corporations 100% but after reading an article that I read in Forbes magazine, I don’t think that these large corporations are worthy of ANY US citizens support. The article was “The Dumbest Idea In The World” Mazimizing shareholder value.”. This article explains why there have been so many layoffs, benefit reductions and jobs moved overseas. It is not about tax cuts or anything but tells of a Business model they have been using for years. Our country has been attacked from within, destroying true capitalism that made our country -Co

    Report Post »  
    • Johnny Cocheroo
      Posted on January 20, 2012 at 10:33am

      Have you given any thought to Ron Paul?

      Ron Paul’s townhall meetings are available as podcasts for free download. I download mine to my ipod.

      Try a couple of the townhall meetings, they seem to be the most informative (don’t do the weekly updates, they seem to be a bunch of misc. news). Ron actually addresses many of the economic problems that you speak of in your post (remember, most agree with Paul on economics)

      1 example – look how much money is being printed out of thin air. All of that “free” federal money is flooding the market and causing prices to rise.

      Another example – Government is too large & breaking the bank. We can get rid of Departments to save money. Do we really need a department of education? I am pretty sure that most readers here could put together a local education program that would create students that would be better prepared than they currently are.

      Won’t hurt to at least listen to Paul, it doesn’t cost anything, nobody will know ;-) and you might have your faith restored in the party.

      Report Post »  
  • TeaPartyForRomney
    Posted on January 20, 2012 at 12:34am

    Even though Romney has booed once, he was praised 8 times for this section of the debate. Romney had a great response to this and the liberals trying to talk down on anyone that is successful and that was what Gingrich seemed to be doing.

    There is way more than this in the debate. Watch the whole thing here: http://url2it.com/liee

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  • conservativewoman
    Posted on January 20, 2012 at 12:29am

    It looks like Newt made most of his money from the books he wrote. That makes sense.

    I wonder how much he paid to get his taxes done. I would have done them for him for half the price!

    Report Post » conservativewoman  
  • A Conservatarian
    Posted on January 19, 2012 at 11:56pm

    Hmmm.. how about get rid of the IRS and Income tax for all those that work in the private sector… if you work for the government though, you still get taxed :)

    Report Post » A Conservatarian  
  • JENGA
    Posted on January 19, 2012 at 11:38pm

    Peoples tax returns are there own business, I don’t want to see them. Seeing this tax return doesn’t make me want to vote for him or not. Who cares, and if Romney wants to wait to show his, its his own business, its his choice, I’m not voting for a tax return, I’m voting for a President!

    Report Post » JENGA  
  • Snidely
    Posted on January 19, 2012 at 11:25pm

    Agreed. I just don’t get this show-us-your-tax-return thinking. I think it does say a lot about a person to see the percentage that they give to charity, but other than that, it’s irrelevant.

    Report Post » Snidely  
  • becca_leigh
    Posted on January 19, 2012 at 10:47pm

    Ok…honestly, I’m sick of hearing about this tax issue and usually all I even look at on these things when they do release them is the tax rate and charitable donations….I thought Romney was worth more than what I’ve been hearing in the past couple days anyways so it has nothing to do with how much money he has….I also know that he has been known to donate to charities and tithe to the Church so I just don’t see what advantage he has at this point by not releasing them….He says he paid about 15% (corporate gains) and since we’re so used to seeing dollar amounts in the billions from obama spending our money, I just hope he releases them before the weekend so everyone can see the rate and move on to important things!!

    Report Post » becca_leigh  
  • AxelPhantom
    Posted on January 19, 2012 at 10:40pm

    Will you release your tax returns…

    Gingrich – already did
    Romney- maybe in April
    Santorum – as soon as I can
    Paul – No

    Report Post »  
  • ambrosia
    Posted on January 19, 2012 at 10:37pm

    What is with Willard Romney ?

    He stutters, stammers, spits & sputters
    flutters, flinches, bumbles & mumbles…UGH…truthfully, he makes me itch.

    He reminds me of that hired-hand guy on Green Acres…“Jeb” or whatever the hell is name was ?

    He always poses on the podium, with one hand in his pant pocket,
    as if he’s holding onto his engraved, money clip
    and looks like he’s ready to sashay down some catwalk-
    the plastic, robotic embodiment of a RNC poster boy.

    He can’t even stay on topic, he’s flailing, all over the place.
    It’s hard to watch someone, so pretty, be so sloppy & clumsy.
    No substance, no common touch-
    a polo pony, not a work horse.

    No doubt about it-
    Romney Ramjet is kindling wood,
    Rootin’ Tootin” Newton is Presidential Timber…..HE gets the job !

    Gingrich/West 2012

    Report Post »  
    • Hobbs57
      Posted on January 19, 2012 at 10:44pm

      You an Evangelical ??

      Report Post » Hobbs57  
    • Faith1029
      Posted on January 19, 2012 at 10:51pm

      AMBROSIA: “What is with Willard Romney ? He stutters, stammers, spits & sputters
      flutters, flinches, bumbles & mumbles…UGH…truthfully, he makes me itch. He reminds me of that hired-hand guy on Green Acres…“Jeb” or whatever the hell is name was ?

      Your post is hysterical. I’m still laughing……….

      Report Post »  
    • Hobbs57
      Posted on January 19, 2012 at 11:15pm

      It’s called bigotry, that’s where those words come from. Same as racist comments and a number of others. Sorry, I Am not defending the right on these issues because quite honestly, I am sick of it. It is that mentality and attitude that produced the party we have before us right now. Picking and choosing people because of biases associated with ideology’s. What a disgrace to Christians as a whole. I won’t associate myself with people like you, never have, never will. I would have been the first one to pop the kid in the mouth for making fun of people based upon ignorance.

      Report Post » Hobbs57  
    • ambrosia
      Posted on January 20, 2012 at 11:39am

      @HOBBS57

      No, idiot, not an Evangelical…….a NEWTONIAN !

      Report Post »  
    • ambrosia
      Posted on January 20, 2012 at 11:46am

      @FAITH1029

      Ha !
      No, I’m truly serious-
      Watching Willard Romney DOES make me itch.
      I’m off to pick up a new “Loofah Sponge” this afternoon.

      Tell me, FAITH1029….how can someone so “Pretty” be so “Prickly” ?

      Report Post »  
    • ambrosia
      Posted on January 20, 2012 at 12:03pm

      @HOBBS57

      Hey, idiot, once again, your comment-
      “I won’t associate myself with people like you, never have, never will.”
      is purely redundant.
      Nobody asked you, to associate with me, buddy-
      you’re the one that made the “Bigoted” first reply to my post,
      in poor grammar, to boot.

      Get off MY cloud, Bozo !

      It’s obvious, by all your schizophrenic posts,
      that you, still carry a torch for Obama
      and any torch for Obama, certainly AIN’T no Liberty Torch.

      On that note,
      please take the Liberty, to go wipe your chin
      and finish, slurping, your bowl of Spaghettio’s-
      try using a spoon this time, Caveman !

      Report Post »  
    • Faith1029
      Posted on January 20, 2012 at 12:52pm

      AMBROSIA: “Ha !
      No, I’m truly serious-
      Watching Willard Romney DOES make me itch.
      I’m off to pick up a new “Loofah Sponge” this afternoon.

      Tell me, FAITH1029….how can someone so “Pretty” be so “Prickly” ?

      I have to say, your sense of humor helps balance the negative posts. When I think of your other post, it still makes me laugh. Funny stuff………

      Report Post »  
  • neverending
    Posted on January 19, 2012 at 10:37pm

    Gingrich saying anything in there we should know about???? The clown is the biggest joke!

    Report Post »  
  • PJL
    Posted on January 19, 2012 at 10:33pm

    What is the big deal? Paul and Rick have not released theirs.

    Report Post » PJL  
  • circleDwagons
    Posted on January 19, 2012 at 10:16pm

    i think that santorum got schooled tonight, however i loved his answer that he did his own taxes and that they where back home on his computer. congressman by law should do their own taxes and then have the IRS review them. of course we could just get rid of the federal income tax and the IRS

    Report Post » circleDwagons  
  • LVMerrily
    Posted on January 19, 2012 at 10:16pm

    All the interesting stuff is on Line 17 to see what his K-1′s show where the money is parked. Also, who issued the W-2 – his own company?

    Report Post »  
    • LVMerrily
      Posted on January 19, 2012 at 10:44pm

      All their major income is from Gingrich Holdings and Gingrich Productions – those are the returns I’d like to see.

      Report Post »  
  • deweydewmeyer
    Posted on January 19, 2012 at 9:57pm

    Newton has figured out how to make a lot of money while looking like the young grinch.
    He is the Newty Grinchgrinch!
    hooooowaaaaaah!

    Report Post » deweydewmeyer  
  • Wakeup Maggie
    Posted on January 19, 2012 at 9:46pm

    Demint / West 2012

    Report Post » Wakeup Maggie  
    • neverending
      Posted on January 19, 2012 at 10:35pm

      Oh wow – could we be so lucky to have two GENUINE, HONEST, decent great American Patriots who are for “we the people” and we could honestly and very proudly call them Mr. President and Mr. Vice-President. I pray that will happen one day before it is too late.

      Report Post »  
    • Upstate SC
      Posted on January 20, 2012 at 8:44am

      Yeah Jim Demint and Allen West both voted for the NDAA bill that stripped Americans of the rights to due process and you call them patriots. Come on people…. Did every one who watched the debate notice that Ron Paul was not only looked over by the CNN host but also Rommey made the statement that “we are down to three in this race” before he corrected himself… Look if the MSM is so hell bent on ignoring Ron Paul along with the other candidates, that should be a red flag to all of us. You are either for the constitution or not… We either return back to the constitution or continue to destroy it. The thing that gets me is the folks who serve (themselves) is that they all took an oath to uphold the constitution. IMO all of them that vote for legislation that is in direct conflict with the constitution should be tried for treason. Why else would we make them take an oath if it means nothing in doing so.

      Report Post » Upstate SC  
  • marybethelizabeth
    Posted on January 19, 2012 at 9:27pm

    Why is there no story on theblaze that Governor Perry is no longer seeking the Republican nomination for President and is endorsing ex speaker Gingrich?

    Theblaze is not a reliable news organization.

    Report Post » marybethelizabeth  
  • CatB
    Posted on January 19, 2012 at 9:22pm

    Who cares ??? Now Obama’s school records .. that would be interesting!

    OMG .. Obama Must Go 2012!

    Report Post »  
    • Shasta
      Posted on January 19, 2012 at 9:27pm

      Never happen because MSM will never ask for them. Hell, the GOP will probably never ask for them.

      Report Post » Shasta  
  • fullblownjackass
    Posted on January 19, 2012 at 9:14pm

    Hey Newt now release the records of the work you did for Freddie Mac!

    http://voices.yahoo.com/newt-gingrich-conservative-futurist-10844011.html?cat=49

    Report Post » fullblownjackass  
  • SychinLegacy
    Posted on January 19, 2012 at 9:13pm

    I don’t care how much Gingrich made in a year. It’s his policies that bother me, not his income.

    Report Post » SychinLegacy  
  • trolltrainer
    Posted on January 19, 2012 at 9:10pm

    Yep, your turn Mitt.

    One thing though, Newt paid 30% while Mitt wisely paid 15%. Not too smart Newt, you want to play with MY money!

    Report Post »  
    • Shasta
      Posted on January 19, 2012 at 9:15pm

      I believe Newts taxes were based upon regular income, and not investment income, which is what Romney’s taxes were based on. Most retirees live off of their income accounts and have to pay dividend and capital gains, so it is not just rich people who get hurt by this tax. Obummer wants to really take it to retirees. So much for supporting the middle class.

      Report Post » Shasta  
    • trolltrainer
      Posted on January 19, 2012 at 9:27pm

      Shasta,

      Thanks for your post. I did realize that, they have been discussing Romney’s taxes all day on FNC. Truth is I really do not care about this “issue” either, it is just a distraction.

      Report Post »  
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