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Thursday, February 16, 2012

postheadericon Santorum releases tax returns

Rick Santorum released his tax returns on Wednesday night.

The former Pennsylvania senator had previously said he planned to release the returns and, in late January, went home to prepare them.

The returns Santorum released span from 2007 to 2010. In 2007, Santorum and his wife paid $167,000 in taxes. That went up to $262,000 in 2008 and again increased to $310,000 in 2009. In 2009 the Santorum's paid $263,000 in taxes. Santorum payed a tax rate of about 25 percent in 2008 and that increased to about 28 percent in 2010, a higher rate than Mitt Romney that year (Romney paid a rate of 13.9 percent).

According to the returns, most of Santorum's income came from public speaking gigs for Excelsio LLC, a software company, and consulting jobs. Santorum also received income from serving on a number of corporate boards and as a political pundit. Additionally, Santorum and his wife reported income from selling stocks from United Health Services a! nd Brandywine.

Tax returns have been a topic of discussion in the Republican presidential race. Mitt Romney has received criticism for stalling on releasing his tax returns. Romney has maintained that he's complied with all legal obligations on disclosing his wealth and added that he may release his returns sometime in the future.

Santorum has been one of the voices calling for the former Massachusetts governor to release his returns.

"I don't know why he hasn't released his tax returns. I think he should," Santorum said in January.

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