By Gary P Jackson

I’ll be honest, I really don’t care about any of these candidates income taxes. I haven’t cared if they release them or not, at least not until now.

Newt Gingrich and others are trying to make a big deal out of the fact Mitt only pays capital gains taxes, which works out to around 15% on his earnings. They are trying to make it seem like Mitt is some sort of tax cheat. It’s rather sad.

Thing is, Mitt Romney has been, for all intents and purposes, unemployed since 1999. Romney left Bain to go turn the Olympics around. He worked doing this, but received no salary. He also refused his salary as governor of Massachusetts. In other words, all of his income is generated by investments, which are taxed at a lower rate. This is, of course, a long standing tax law that encourages people to save and invest. That drives the economy.

Now it seems Newt Gingrich is yet again playing dirty.

Newt made a big deal last night of releasing his tax return.[s]

Newt only released one year, 2010. Now he’s trash talking and saying he won’t release any more until Romney releases his, and then only as much as Romney releases.

From Byron York:

Speaking to reporters after the CNN debate in North Charleston Thursday night, Gingrich spokesman R.C. Hammond said when it comes to releasing any more returns, the campaign will go only as far as Romney. “We will release everything Mitt Romney releases,” Hammond said. “If he shows a little leg, we will show a little leg. If he goes to the kneecap, we’ll go to the kneecap.“

 

“So this is it unless Romney releases something?“

 

“Yes, that’s correct.“

 

Last Sunday on “Meet the Press,” Gingrich, looking for a way to pressure Romney into disclosure, pledged make his own records public. “This coming Thursday I will release my income tax records,” Gingrich said. “We have our folks working to be able to release our records on Thursday.“

 

Gingrich’s words left the impression that he would release records — plural — but when Thursday came, he released just his personal return for 2010, plus the return of a personal foundation, also from 2010. The Gingrich campaign released the documents during the debate itself, when many reporters were focused on events onstage.

York goes on to give us the numbers from Newt. Bottom line is the Newt paid around 32% in taxes. I’m no tax expert, but I have always done my own taxes. You can’t tell me someone who earns that kind of money, and has the sort of assets Newt has, doesn’t have more deductions that he is entitled to.

I agree with John Sununu. It’s almost like Newt deliberately over paid his taxes, hoping to be able to use this as a weapon at some point, against one or more candidates:

The amount of tax Gingrich paid was substantial — an effective tax rate of about 32 percent. Earlier this week, Romney, whose income derives mostly from capital gains, said he paid taxes at about a 15 percent rate. Gingrich is hoping to show a contrast between his taxpaying and Romney’s — a strategy not lost on Romney’s advisors, who accused Gingrich of deliberately structuring his income to showcase his payment of a high tax rate. The 2010 return is “what I would call the carefully crafted one, last year, that Newt Gingrich built primarily for the purpose…of being able to release it,” said former New Hampshire Gov. John Sununu, a Romney ally, on Bill Bennett’s radio program Friday morning. “I know Gingrich. I know that’s the kind of thing he would do.“

Read more here.

This is just more of Newt’s democrat style class warfare nonsense. A way to divide people rather than unite them.

We all know Romney is a wealthy man. He earned it and earned it honestly. That used to be considered honorable in America. Something most Americans were not only proud to see, but aspired to themselves. We’ve always been a nation that celebrated success. Americans have always striven to succeed.

I guess those days are gone.

It seems now that class warfare, attacking capitalism and free markets as well is the American way of life, is the new normal in the era of Obama/Gingich and the “occupy” movement.

I weep for America as it seems her glory days are now officially behind her.

I call on Mitt Romney to release all of his tax records. Go back to at least the days when Newt Gingrich was shilling for Freddie Mac. Longer if possible.

Let’s call Gingrich’s bluff and force him to release the rest of his returns!