People who say the rich are not “paying their fair share” need only to look at Newt Gingrich’s tax records he released last night. Gingrich earned $3.4 million in 2010 (which is “rich” unless you live in NYC or LA) and paid $944,708 in taxes. So essentially he had to fork over a $1 million because he earned $3.5 million. That’s a lot of money. 31.7 percent of their gross adjusted income to be exact. The idea that higher income Americans should be forced to hand over even more of their earnings to the government is outrageous. It’s outright theft.
Republican presidential candidate Newt Gingrich paid nearly $1 million in federal income taxes in 2010 on more than $3.1 million in income, filings released Thursday showed amid renewed calls for rival Mitt Romney to release his tax records as well.
Gingrich’s tax returns — released minutes after the start of the latest Republican presidential debate — showed he and his wife paid $994,708, or about 31.7 percent, of their adjusted income in taxes. Personal financial disclosure forms filed last summer show Gingrich is worth more than $6.5 million.
As a side note, it’s pretty pathetic for Gingrich to keep attacking Mitt Romney for his wealth and business dealings at Bain Capital. One can argue about how many jobs Romney created, but it was a hell of a lot more than Newt Gingrich ever did as a lobbyist and author after leaving Congress. Republicans should leave the politics of envy and class warfare to the Democrats.
(H/T Fox News)
