February 15th, 2012
10:30 PM ET
2 years ago

Santorum took in $3.6M in four years; highest tax rate was 28.3%

(CNN) – Rick Santorum’s latest four years of tax returns show he earned more than a total of $3.6 million, according to spokeswoman Alice Stewart.

In 2010, his most recent year of tax returns, Santorum earned $930,230 and paid $263,440 in taxes at a rate of 28.3%.

In 2009, he took in $1.1 million in income and paid $310,212 in taxes at a rate of 27.5%.

In 2008, Santorum earned $952,630 and paid $262,100 in taxes at a rate of 27.5%.

In 2007, his first year out of the Senate, Santorum took in $668,480 in income and paid $167,760 in taxes at a rate of 25.1%.

Santorum and his wife, Karen, filed jointly each year.

“I worked very hard - in many cases, six or seven jobs a year,” Santorum said Wednesday in an interview on CNN’s “Piers Morgan Tonight.”

He added that he had a “couple of setbacks,” including a 40% drop in the value of his house, mortgage payments, and medical bills for his child born with a disability.

The candidate said he decided to release the four years since he’s been out of the Senate and in the private sector. He said he did not keep his tax returns while he served in Congress as a two-term senator and two-term congressman.

Santorum has been promising for about a month to release his taxes, but has delayed doing so. He originally said he had to return home to get them off his computer, since he says he does his own taxes.

Then, after he returned home to collect the information nearly three weeks ago, he told CNN Chief National Correspondent John King he was consulting with an accountant to make sure all the information was correct.

Santorum aides emphasized and underscored that he released four years' worth of tax information – twice as many as chief rival Mitt Romney.

Last month, Romney and his wife Ann reported making $21.7 million in 2010 income and paying $3 million in federal taxes. They said his 2011 income was nearly $21 million, with a $3.2 million tax bill. Their effective tax rate – the percentage of his income owed in federal taxes – was 14.5 %.

Newt Gingrich released only one year of his income taxes – 2010. He reported making $3.1 million and paying $994,708 in taxes. He was taxed at a rate of 31%.

Numbers from Santorum’s tax returns were first reported Wednesday night by POLITICO.

Also see:

Gingrich: Santorum 'misunderstands' modern warfare

Santorum slams Obama administration as 'elite snobs'

Romney surrogates attack Santorum's record

CNN Poll: Romney's likability fading

CNN Poll: Gender and income gaps in GOP nomination battle


Filed under: 2012 • Rick Santorum • Taxes
soundoff (116 Responses)
  1. OpKode

    "The candidate said he decided to release the four years since he’s been out of the Senate and in the private sector. He said he did not keep his tax returns while he served in Congress as a two-term senator and two-term congressman."

    Hmmm, Seems to me, I'm required to keep them for 7. What's he hiding?

    February 16, 2012 12:51 am at 12:51 am |
  2. DoneBroke

    Nice to see he cared to pay 2% in tithing. What a cheapskate.

    February 16, 2012 12:52 am at 12:52 am |
  3. yimmy

    Bahahaha, he is poor. Romney makes that in 15 minutes and only pays 14%. Santorum is a poor sucker!

    February 16, 2012 01:00 am at 1:00 am |
  4. Mike

    Romeny the tax cheat pays less in tax rate than the people taking care of his lawns!

    February 16, 2012 01:01 am at 1:01 am |
  5. Jim

    So, I tend to be center-left on matters but am ultimately swayed by quantitative results and numbers. In this case we have several examples of millionaire gross income taxed at 27.5% – 31%. Why all the ballyhoo about millionaires paying < 20% ? After all the effort to rally support around increasing millionaire taxes up to the 30% mark, I'd say we're already there...

    February 16, 2012 01:02 am at 1:02 am |
  6. ha

    No wonder they say Good bless america .

    February 16, 2012 01:11 am at 1:11 am |
  7. J.V.Hodgson

    The most significant factor from all these tax return releases is:_
    1) Gingrich and Santorum have mainly EARNED INCOME and broadly pay 25- 30 % tax
    2) Romney has maybe a very small Earned income but huge dividend and Capital gains taxed at 15%.
    the solution is simple tax dividend and interest income at " Income tax rates" and capital gains at 20 or 25 % ( lower than the developed world international average of 30 %)
    Then you can talk real deficit reduction and balancing budgets of course with reasonable spending and entitlement adjustments.
    Regards,
    Hodgson.

    February 16, 2012 01:14 am at 1:14 am |
  8. CORRUPT POLITICIANS

    THIS is why Santorum said in the Florida Debate about Gingrich: "It's not such a bad thing leaving congress and using skills learned there to make a profit." Santorum is doing the exact same thing!

    Electing somebody to run Washington who is dependant on Washington and Government (or advice on how to approach government) is NOT going to change government. Somebody has to be elected who is not dependant on Government.

    Being independantly wealthy would be a great start!

    February 16, 2012 01:22 am at 1:22 am |
  9. julien vergara

    So whats wrong. Is newt likable. Candidate for president should know the job. Romney know how to become rich

    February 16, 2012 01:24 am at 1:24 am |
  10. midwestmatt

    That's a pretty nice income Mr. Santorum. I'm sure you earned every cent by tapping old friends who helped get you elected as a Senator and are now trying to get you elected. How nice it is to have wealthy benefactors who want to force Catholic/Sharia law down our throats.

    I'm not buying that you earned this extremely nice income by virtue of hard work, Rick. You are an opportunist and you use connections to get your way.

    February 16, 2012 01:35 am at 1:35 am |
  11. Arizona Native

    Where are Santorums 2011 returns?

    February 16, 2012 01:48 am at 1:48 am |
  12. logicnLA

    He's kiddng right? Maybe 6 or 7 jobs? Being on a board of directors is not a real job. Giving speeches is not a real job. Was he the second shift janitor or security guard? Doubtful. As another- "I'll take my lifwetime pensiona dn all the lifetime medical benefits but you get nothing" candidates, he's is as useless as all of them.

    February 16, 2012 02:03 am at 2:03 am |
  13. Jeremy

    That's a lot. Likely far far more than I'll ever see, but less than a million a year...by elite power standards that seems actually...not that insane. I love how the media never seem to get outraged when it's (D)'s doing it. Like when the Clintons paid MULTI-MILLIONS just for Chelsea's wedding.

    February 16, 2012 02:09 am at 2:09 am |
  14. Darthlawsuit

    Well at least he pays a decent tax rate unlike Romney.

    February 16, 2012 02:11 am at 2:11 am |
  15. Cortanis

    That's highly respectable actually. 25%+ on 3.6mil. isn't that big of an issue. At least he also explained where it all came from too. Six or seven jobs a year is kind of excessive. Think he may need to consult some one for stress soon at that rate though.

    February 16, 2012 02:12 am at 2:12 am |
  16. He broke

    For a Republican Presidential hopeful, he is in the poverty level. May need to get him some food stamps.

    February 16, 2012 02:31 am at 2:31 am |
  17. Mike

    OK GOP, so you want to go with Santorum as your nominee. Well.... thank you, thank you, THANK YOU! This is going to be a cake walk for Obama as the GOP does everything it can to alienate independents.

    February 16, 2012 02:36 am at 2:36 am |
  18. Adam

    “I worked very hard – in many cases, six or seven jobs a year,” Santorum said Wednesday in an interview on CNN’s “Piers Morgan Tonight.”

    lol yeah ok. Speaking 6 or 7 times a year for 2 hours is NOT working hard or having multiple jobs.

    February 16, 2012 02:39 am at 2:39 am |
  19. Middle Class Baby Booomer

    Baah Humbug. They do not release old returns so you cannot tell how much passive income these cheaats make. Add that in and their tax rate is in the single digits. Ask MiTt and Rick and Newt to talk of their Deferred Compensation packaages. Do you really think the people are that Stupid

    February 16, 2012 02:52 am at 2:52 am |
  20. Zane

    Clearly Santorum is part of the 1%. He can't understand the average person. He was also named "most corrupt" senator in 2006 (according to Citizens for Responsibility and Ethics in Washington). No way will he get my vote!

    February 16, 2012 02:56 am at 2:56 am |
  21. Mike H.

    One of these men doesn't belong. One of these men isn't like the others.... Seriously, we're to believe that Mitt Romney is possibly right for America? I am convinced he couldn't care less about 99-percent of us. He's concerned about making sure his ilk are doing well, and that he is doing well.

    February 16, 2012 03:12 am at 3:12 am |
  22. Spencer

    Romney should teach Santorum and Newt how to be smart with their finances.

    February 16, 2012 03:12 am at 3:12 am |
  23. audrey evans

    I am sick of these rich people buying public offices.

    February 16, 2012 03:19 am at 3:19 am |
  24. Zach

    I am not sure why the tone of this story treats 25%+ of one's income to taxes as a low figure. It is not the job of individuals to fund the IRS. Human nature responds to incentive, taxing away one's incentive is counter productive to the country.

    February 16, 2012 03:40 am at 3:40 am |
  25. ONE-TIME

    Release wt you did in congress and the senate rick you talk about mitt so much lets see it it you are not poor either so dont talk about you knowing what it is to be poor like me hamber helper is a good meal to me i bet you eat lobster......

    February 16, 2012 03:55 am at 3:55 am |
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