Spitzer releases tax info – but not returns – after calls from rival
July 16th, 2013
02:12 PM ET
1 year ago

Spitzer releases tax info – but not returns – after calls from rival

Updated 4:44 p.m. ET, 7/17: Spitzer's campaign released pages from his 2011 and 2012 tax returns on Wednesday.

(CNN) - After calls from his Democratic opponent to release his personal income tax returns, former New York Gov. Eliot Spitzer – currently making a political comeback bid for New York City comptroller – disclosed his income and taxes paid for the past two years.

Spitzer, who stopped short of releasing his full tax returns, said he made an adjusted gross income of $4.268 million in 2012 and paid $2.094 million in federal, state and city taxes, a rate of 49%.

In 2011, Spitzer's adjusted gross income was $3.769 million and he paid a tax rate of 39.5%. Spitzer was employed by CNN for part of that year, hosting an evening program until July 2011.

A Spitzer campaign spokeswoman said the candidate wouldn't release his full tax returns "as they contain income information about partnerships and other entities that is private."

The disclosure came after the campaign of Spitzer's Democratic opponent, Manhattan Borough President Scott Stringer, called on the former governor to release his returns from the past five years. Stringer's own tax information showed the candidate's adjusted gross income was nearly $218,000 in 2012 and $222,000 in 2011.

"People don't want the drama of Eliot Spitzer, who was a failed governor by any measure," Stringer said on MSNBC Tuesday. "Now coming in the race refusing to release five years of taxes, refusing to file a conflict of interest form. This show is basically making clear to people that Eliot represents a different set of rules than the regular public, and that's not going to play well in the city of New York."

As Spitzer made a last-minute effort to gather enough signatures for a place on the primary ballot last week, he failed to file a required financial disclosure report with the city's Conflicts of Interest board. The report was due Thursday, the same day Spitzer announced that he had obtained 27,000 signatures since he first started collecting names on Monday. He needed 3,750 valid signatures to get on the ballot.

The penalties for missing the disclosure deadline include fines ranging from $250-$10,000. The Conflicts of Interest Board determines the fine based on a candidate's past failure to file reports in a "timely manner."

"The old Eliot Spitzer supported stringent ethics disclosure," said Stringer campaign spokeswoman Audrey Gelman. "Just as we've seen on his decision to abandon campaign spending limits he once supported, it's increasingly clear that Eliot Spitzer believes there are two standards in public life-one for him, and one for everyone else."

Spitzer served as New York governor until 2008, when he resigned after admitting to paying prostitutes for sex.

According to a Quinnipiac University poll released Monday, Spitzer leads Stringer 48%-33% in the Democratic primary race for comptroller. The vote will take place September 10.


Filed under: Eliot Spitzer • Scott Stringer • Taxes
soundoff (12 Responses)
  1. just sayin

    i just love it when the leftist democrats start eating each other.... yeah! show those tax returns you rich millionaire!!! you 1%er rich evil thief you!!!

    July 16, 2013 02:19 pm at 2:19 pm |
  2. Data Driven

    I agree. They should all release their tax returns. A lot of d-bags would refrain from running for political office if that was a law of the land. Honest men and women serving the public. "It's a hell of a concept" - Vanilla Ice, "Ice Ice Baby"

    July 16, 2013 02:21 pm at 2:21 pm |
  3. Rudy NYC

    These disclosures may hurt Spitzer. But it appears that a lot of New Yorkers simply do not care. They'd rather go with someone they know than someone they don't know. I'd vote for former Gov. Patterson, the blind guy who took over for Spitzer, before I'd vote for Spitzer.

    LIke many Democratic governers holding office in during and immediately after the Great Recession, they were blamed for their state's financial woes. Patterson knew this and tried to enact what he felt were the best policies for the state, political fallout be damned. He was despised on both sides of the aisle. His downfall was a scandal involving an aide, one which he appeared to try to quietly resolve or cover up. Whatever he did, he should have left it alone.

    July 16, 2013 02:27 pm at 2:27 pm |
  4. Guess

    Personally, id go with the broke guy, wealthy people got that way by putting themselves first, enough already.

    July 16, 2013 02:55 pm at 2:55 pm |
  5. Guess

    Romney? i just dont believe he paid 40%+ on his earnings.

    July 16, 2013 03:10 pm at 3:10 pm |
  6. Guess

    Rick, when your sarcasim, parrallels the truth, you are the one who is clueless

    July 16, 2013 03:13 pm at 3:13 pm |
  7. Dutch/Bad Newz, VA -aka- Take Back The House -aka- No Redemption Votes

    I'm sure his returns are a clear indictment of him being a 1%er, but we know Elliot. However, we don't know you Mr. Stringer. Putting aside Mr. Spitzer's "scandal," I know he holds people accountable. He did so as AG and he did a dam good job as governor. Word of advice Mr. stringer, you may want to stick to the issues and not personal attacks.

    July 16, 2013 03:20 pm at 3:20 pm |
  8. Al-NY,NY

    disclose Eliot. That's the only to shut the big mouthed knuckle-dragging tightie righties up.

    July 16, 2013 03:28 pm at 3:28 pm |
  9. Steveo

    @Guess

    Personally, id go with the broke guy, wealthy people got that way by putting themselves first, enough already
    -----------
    A combined 49% TAX rate! $49%! Good night!

    July 16, 2013 03:46 pm at 3:46 pm |
  10. Steveo

    @Guess
    Romney? i just dont believe he paid 40%+ on his earnings.
    ------------
    If Romney is living off of dividends, the applicable tax rate is 15%

    July 16, 2013 03:49 pm at 3:49 pm |
  11. Steveo

    @Al-NY,NY

    disclose Eliot. That's the only to shut the big mouthed knuckle-dragging tightie righties up.
    --------------–
    In reading the story, one discovers his DEMOCRATIC opponent, Stringer laid down that gauntlet! Not a single rightie in sight!

    July 16, 2013 03:52 pm at 3:52 pm |
  12. Al-NY,NY

    Steveo.....I know that his Democratic opponent is asking now. Assuming he wins the nomination, it will be tightie righties by the dozen dragging this out

    July 16, 2013 03:57 pm at 3:57 pm |