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

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

Romney "won't apologize" for being successful.

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.


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