Newt Gingrich's Performance & Mitt Romney's Tax Returns

  • Aired:  01/18/12
  •  | Views: 39,274

Newt Gingrich gains momentum from his strong South Carolina debate performance, and Mitt Romney takes tough questions about his tax returns. (3:44)

[CHEERING AND APPLAUSE]

[AUDIENCE CHANTING "STEPHEN"]

>> Stephen: THANK YOU SO MUCH.

WELCOME TO "THE REPORT,"

EVERYBODY.

THANK YOU.

GOOD TO HAVE YOU WITH US.

[CHEERING AND APPLAUSE]

THANK YOU SO MUCH FOR JOINING

US.

EVERYBODY IN HERE, OUT THERE,

EVERYONE IN UTERO, WHO MIGHT BE

HERE ANY SECOND.

[LAUGHTER]

FOLKS, WITH JUST THREE DAYS LEFT

UNTIL THE BIG VOTE, ALL EYES ARE

ON SOUTH CAROLINA.

AND SO FAR ONLY NEWT GINGRICH

HAS A HEAD BIG ENOUGH TO BLOCK

EVERYONE'S VIEW.

NEWTON'S STRONG PERFORMANCE IN

MONDAY'S DEBATE HAS GIVEN HIM

NEWT-MENTUM, PERHAPS ENOUGH TO

OVERCOME HIS APPARENT GOOD

EVENING-NERTIA.

HE KNOWS THE STAKES COULDN'T BE

HIGHER.

>> IF I WIN THE PRIMARY, I WILL

PROBABLY BE THE NOMINEE.

IF I DON'T WIN, WE'LL PROBABLY

ELECT A MODERATE.

>> Stephen: MEANWHILE, MITT

ROMNEY IS GETTING HIT WITH TOUGH

QUESTIONS ABOUT HIS TAX RETURN.

>> GOVERNOR, WILL YOU RELEASE

YOUR INCOME TAX RETURNS?

>> YOU KNOW, I LOOKEDWHAT HAS

BEEN DONE WITH CAMPAIGNS IN THE

PAST WITH SENATOR McCAIN AND

PRESIDENT GEORGE W. BUSH AND

OTHERS.

THEY'VE TENDED TO RELEASE TAX

RECORDS IN APRIL OR TAX SEASON,

BUT, YOU KNOW, IF THAT'S BEEN

THE TRADITION, I'M NOT OPPOSED

TO DOING THAT.

TIME WILL TELL.

I HAVE NOTHING IN THEM THAT

SUGGESTS THERE'S ANY PROBLEM, AN

I'M HAPPY TO DO SO.

I SORT OF FEEL LIKE WE'RE

SHOWING A LOT OF EXPOSURE AT

THIS POINT, AND IF I BECOME OUR

NOMINEE, I'M... AND WHAT'S

HAPPENED IN HISTORY IS PEOPLE

HAVE RELEASED THEM BY APRIL OF

THE COMING YEAR.

AND THAT'S PROBABLY WHAT I'D DO.

[LAUGHTER]

[CHEERING AND APPLAUSE]

>> Stephen: SO THERE YOU HAVE

IT, FOLKS.

HE WILL PROBABLY MOSTLY MAYB-LEY

RELEASE HIS TAX RETURN MS APRIL,

ASSUMING HE IS FINISHED GIVING

THAT ANSWER BY THEN.

BECAUSE, FOLKS, THE NEXT DAY, HE

STILL HADN'T GOTTEN TO THE VERB.

JIM?

>> WHAT'S THE EFFECTIVE RATE

I'VE BEEN PAYING?

IT'S PROBABLY CLOSER TO THE 15%

RATE THAN ANYTHING BECAUSE MY

LAST TEN YEARS I'VE, UH, MY

INCOME COMES OVERWHELMINGLY FROM

INVESTMENTS MADE IN THE PAST

RATHER THAN ORDINARY INCOME OR

RATHER THAN EARNED ANNUAL

INCOME, AND THEN I GET SPEAKERS

FEES FROM TIME TO TIME, BUT NOT

VERY MUCH.

>> Stephen: THAT ANSWER,

FOLKS, IS SHOCKING.

PEOPLE ACTUALLY PAY TO HEAR MITT

ROMNEY SPEAK.

[LAUGHTER]

BUT AS HE SAYS, THEY DON'T PAY

HIM VERY MUCH, JUST $374,000

LAST YEAR.

[AUDIENCE REACTS]

THINK ABOUT IT, FOLKS.

IF THAT WAS HIS ENTIRE SALARY,

MITT'S INCOME LEVEL WOULD DROP

ALL THE WAY DOWN TO THE TOP 1%.

[LAUGHTER]

WELL, I AM CALLING FOR FULL

DISCLOSURE, AND NOT JUST FROM

MITT ROMNEY.

I'M CALLING ON NEWT GINGRICH TO

RELEASE HIS TAX TURN, RICK

SANTORUM TO RELEASE HIS TAX

RETURNS, RON PAUL TO RELEASE THE

TREASURE MAP TO HIS CHEST OF

GOLD.

AND, FOLKS, NOT JUST...

[CHEERING AND APPLAUSE]

I KNOW.

NOT JUST 2011.

I MEAN THE LAST TEN YEARS OF

TREASURE MAPS.

DEAD MAN'S COVE, GHOST ISLAND,

THE CRYSTAL CAVE

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