1. WEALTHY

    Rivals Attack Romney on Tax Rate

    (L-R) Republican presidential hopefuls Rick Perry, Rick Santorum, Mitt Romney and Newt Gingritch talk at the end of a South Carolina Republican presidential debate in Myrtle Beach, South Carolina, January 16, 2012. South Carolina will hold its Republican primary on January 21, 2012.  AFP PHOTO/Emmanuel Dunand (Photo credit should read EMMANUEL DUNAND/AFP/Getty Images)

    AFP / Getty Images

    Mitt Romney may wait till April to release his tax returns, but his comment that his tax rate is “probably closer to the 15 percent rate than anything” is enough for critics to start with. Newt Gingrich joked that he should rename his plan for a single 15 percent tax rate the “Mitt Romney flat tax,” while Rick Perry redoubled his calls for Romney to release his full records so voters can see “if he's as good a businessman as he says he is.” The White House got in on the action, pointing out that Romney’s low rate is an example of the inequality of a system that taxes investments at a much lower rate than income. When a reporter pointed out that Romney, who says most of his income comes from investments, is following the law, spokesman Jay Carney said, “The president believes we ought to change the law, for that reason.”

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