Newt and Callista’s 2010 Tax Returns

Jan 20, 2012 by

Newt Gingrich

by Donna Garner –

I asked a tax expert to analyze Newt and Callista’s 2010 tax return (released yesterday, link to CBSNews article posted below), and the tax expert’s figures are posted at the bottom of this e-mail.

In 2010, Newt and Callista gave only 2.6% of their Adjusted Gross Income to charities. Remember that in 2006 Herman Cain gave $1 Million out of his own pocket to support pro-life candidates, and that was a long time before he ever dreamed of running for President.

It seems to me that charitable giving indicated in tax returns can reveal issues of the heart and are a practical way to analyze what people value the most in life – money or servanthood.

Mitt Romney, Ron Paul, and Rick Santorum have not yet made their IRS forms public. Santorum said last night on the Greta Van Susteren Show that he keeps his IRS taxes on his home computer and that as soon as he and his family go back home (probably after the Florida caucuses), he will make his IRS forms available to the public.

HOW MUCH ARE THESE CANDIDATES WORTH?

 

Mitt Romney — $85 to $264 Million

Newt Gingrich — $7 to $31 Million

Barack Obama — $2.8 to $11.8 Million

Ron Paul — $2.4 to $5.4 Million

Rick Santorum — $1 to $3 Million

 

*As reported by Money on 1.13.12: http://finance.yahoo.com/news/election-2012–how-rich-are-these-guys.html

 

 

Donna Garner

Wgarner1@hot.rr.com

 

=====================

 

1.19.12 – Newt Gingrich’s 2010 tax returns — http://www.cbsnews.com/8301-503544_162-57362451-503544/gingrich-releases-tax-returns-paid-31-percent-tax-rate/

 

Excerpts from this article:

Gingrich’s returns reveal that he and his wife Callista earned more than $3.1 million in 2010 and paid $994,708 in taxes, or 31 percent of their income. More than $2.5 million of their income was earned from partnerships and S corporations. He had income of $41,625 from speaking and board of directors fees.

 

Gingrich’s tax returns detail some of his expenses, including $81,000 to charity, $19,800 in alimony, and $14,700 in taxable income to a household employee.

 

=================

Newt Gingrich’s 2010 Tax Return

(Newton & Callista Gingrich

(Filed 3.27.11)

 

 

Amount Percentage

 

Adjusted Gross Income (AGI) $3,142,066

 

Total Tax $994,708

 

Total Tax as percentage of AGI 31.7%

 

Gifts to Charity $81,133

 

Charitable Gifts as percentage of AGI 2.6%

 

Speaking Fees $21,625

 

Short-Term Capital Gains $4,184

 

Long-Term Capital Gains (Loss) ($32,541)

 

Income from Partnerships & S Corp. $2,525,683

(most of this from Gingrich Holds.)

 

Income from Gingrich Holdings, Inc. $2,478,539

 

Inc. from Ging. Holds. as % of P&S Inc. 98.1%

 

Inc. from Ging. Holds. as % of AGI 78.9%

Print Friendly, PDF & Email

Related Posts

Tags

Share This

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.