COMMENTARY | As reported by Reuters, Mitt Romney has bowed to pressure by Newt Gingrich and released his 2010-2011 tax filings. The filings reveal that the former Massachusetts governor had income of $45 million and paid taxes on that totaling $6.7 million.
Gingrich made the claims that Mitt was hiding his income and attempted to paint him as someone out of touch with main street America. Yet the governor's forced release of his tax information showed none of this. His largest source of income is held in blind trust which he has no control over, and he is about as in touch with the everyday American as any other politician. Can Gingrich name a presidential candidate in history that went from working at McDonald's to the White House? All candidates are millionaires whose typical employment is either as a lawyer, CEO, or a career politician.
Since Gingrich brought the issues of tax filings into the campaign, let us take a look at his 2010 filing as shown on his website and see how it compares to Romney's return. Gingrich made $3,162,424 in income for the year yet only had $127,290 withheld for Federal Taxes and a total tax liability of $996,251 for the year putting his taxes at about 32 percent. This is offset some by a carry-forward of a tax credit from last year of $485,860. Where did this tax credit come from? To ask the same thing that Gingrich is asking Mitt, is Gingrich trying to hide something from last year that gave him a tax refund of at least $485,860? The filing goes on to say that Gingrich gave only a little over $81,000 to charity. That's only a meager 4 percent as compared an estimated 15 percent that Romney gave in donations. I say these things with a touch of sarcasm to illustrate the point that this tit-for-tat is pointless.
Overall, this really should not be an issue for the Republicans. As the well known writer, Napoleon Hill said, "Great achievement is usually born of great sacrifice, and is never the result of selfishness."
We are the party of achievement. We celebrate success. We praise those that provide for their family and their descendants. Yet here Gingrich is, waving the Democrats' banner for them. He is trying to make people hate Romney for no other reason than he has money. We as the voter need to demand that Gingrich and the rest of the GOP candidates focus the campaign on one thing and one thing only, beating Obama and the Democrats. Nitpicking each other over how much money that person has or if that person has a Swiss bank account or not is only making it easier for the Democrats.
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