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Santorum on Romney’s tax return: ‘Congrats to him, that’s a lot of money’

by Andrew Abramson | January 24th, 2012

Rick Santorum, selling himself as the everyday regular working Republican, became the first presidential candidate residents can remember ever visiting Okeechobee. And he took some time to speak to The Palm Beach Post Tuesday morning about Mitt Romney’s tax return, which showed Romney made $21.7 million in 2010 and paid $3 million in taxes.

“Congrats to him, that’s a lot of money,” Santorum said. “He paid it in capital gains. As he said last night, under Newt’s plan he wouldn’t pay any taxes. It would be $21 million in gains and no taxes whatsoever. I don’t support that. I think there should be taxes on capital gains and dividends. I’m for a low rate of taxation, I’d cut it to 12 percent because we need capital to move through the economy.

“It just points out that people who have been successful can avoid taxation if they want to and can take their income in a lot of different ways and they will do so. They will structure their income to avoid taxation. What you want them to do is to deploy it in a way that maximizes not just benefit to them but benefit to society. That’s what it seems like Gov. Romney did.

“My income, we’re going to be reporting our taxes as soon as I get home and get them out. We’re going to be reporting our taxes soon and we are a small fraction of what Gov. Romney is. Look for me, I did well, better than I’ve ever done before in my life, the past couple of years, so I’m pretty excited about that for our family. But this past year wasn’t as good and this next year isn’t good at all. I’m not making a lot of money right now.”

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4 Responses to “Santorum on Romney’s tax return: ‘Congrats to him, that’s a lot of money’”

  1. Searcher Says:

    So, another TAX CUT for Romney is proposed? What about the average wage earner in the USA who makes $26,000 per year? I bet they have to pay some taxes, but not the RICH REPUBBIES…..

  2. daniel Says:

    wow, that’s incredible, a mans tax returns. we know that the rich does not pay a lot of taxes nothing new. The man is running for president, can he fix the economy. So forget about his money, stop hating, vote for him or just get newt, he is definitely not the one.

  3. Mike S Says:

    Since the stock market hasn’t done so well in the last few years I think it would be interesting to have a bit more information on how he came into the assets that resulted in these capital gains. My guess; NQO – non qualified stock options from Bain Capital. He position at Bain capital allowed him to take his income in such a way to pay lower taxes. That’s whats wrong with our system. Folks like Mitt are in a position to structure their income in this way while the rest of us carry the disproportionate load. Sorry boys, I simply won’t drink the Republican cool-aid.

  4. FeFe Says:

    I don’t care about their taxes; I care about mine. As long as they are current, then everyone is only following the tax code by disgrace Barney Frank (D-Mass). More importantly, one needs a job to receive income and Santorum’s Made In USA manufacturing plan is a strong vision for our returning service men and women. Furthermore, 47% pay no income tax at all with nearly half receiving some govt subsidy; this is as unsustainable as Newt Romney approved TARP, Obamacare, and Cap & Trade – all of which Santorum opposed.

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