Taxes, Republican Presidential Candidate | featured news

Mitt Romney's campaign announced at 5:16 p.m. Friday that the presumptive GOP nominee has filed an extension for his 2011 tax return. "Sometime in the next six months, and prior to the election, Gov. Romney will file and release the 2011 return when there is sufficient information to provide an accurate return," wrote Romney spokeswoman Andrea Saul in an email to reporters. Six months from now would be Oct. 13, weeks before the election.

Former House Speaker Newt Gingrich beat his main GOP presidential rival, Mitt Romney, to the punch by releasing his most recent tax return. But Gingrich still hasn't revealed how he earned most of his $3.1 million.

On a separate issue, Gingrich told reporters that he paid 31 percent of his 2010 income in taxes, more than double the 15 percent Romney said he pays. A Gingrich spokesman said the 31 percent was the effective federal rate on his income. Gingrich declined to criticize Romney on the tax issue, saying instead that it made the case for his own proposal to put in place an optional 15 percent flat income tax. "My goal is not to raise Mitt Romney's taxes, but to let everyone pay Romney's rate," he said.

Former Massachusetts governor Mitt Romney told reporters on Tuesday he currently pays taxes "close to the 15% rate" and that most of his income comes from investments... His net worth is estimated to be between $190 million and $250 million, according to his personal financial disclosure report.

A new independent study says Republican Mitt Romney's tax plan would increase taxes on low-income families while cutting taxes for the middle-class and the rich....

Republican Rick Perry outlined a broad economic proposal on Monday to let Americans pay a flat 20 percent income tax rate and allow corporations to bring profits home from abroad at a discount.

Texas Gov. Rick Perry's call for a flat income tax rate will tie his Republican presidential campaign to a contentious issue that excites many conservatives but has repeatedly failed to win the embrace of mainstream America....

GOP presidential hopeful Herman Cain tweaked his 9-9-9 tax plan, eliminating the tax burden on people living in poverty and creating "opportunity zones" to boost economically depressed areas. Cain's changes to the plan come amid growing criticism that the proposal -- calling for a 9% income tax, 9% national sales tax and 9% corporate tax rate -- would raise taxes on low- and middle-income people while helping the wealthy.