US election 2012: Newt Gingrich releases his tax returns

Gingrich Holdings Inc and Lubbers Agency Inc earned $2.5 million for the
couple.

Mr Gingrich also said he had paid $19,800 in maintenance payments, although
the recipient was not identified. The former House Speaker has been married
twice before to first wife Jackie Battley and second wife Marianne Ginther
Gingrich. His second wife made headlines yesterday with “explosive”
allegations against her ex-husband claiming he asked her for an open
marriage, which Mr Gingrich denies.

Mr Gingrich has been particularly scathing about Mitt Romney’s reluctance to
release his tax returns after admitting only paying a 15 per cent tax rate
due to a controversial loophole in the federal tax system.

Multimillionaire Mitt Romney pledged to release his tax returns in April at
Thursday’s debate in South Carolina, having previously only hinted at the
possibility of his files being opened to public scrutiny. He also indicated
that his tax returns from previous years could be released.

Romney, who was dealt a double blow today after Rick Perry endorsed Newt
Gingrich and his win in the Iowa caucuses was seized from his grasp, is
believed to have amassed a $250 million fortune while working at private
equity firm Bain Capital.

“The Democrats are out there trying their very best to attack people
because they’ve been successful – and I have been successful,” he said. “I’m
not going to apologise for being successful.”

Asked why he was delaying releasing his returns until April he said: “I
want to make sure I’m going to beat president Obama”.

Candidates Ron Paul and Rick Santorum deflected the question, with Ron Paul
saying it wasn’t relevent for him to produce his statements as he had no
conflict of interest. Mr Santorum simply claimed “they were at home”
but his tax rate was higher than Mr Romney’s.

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