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from the cruise ship that ran aground off the coast of italy. rescue workers finally resuming the search for missing passengers. let s go outfront. good evening. i m erin burnett. tonight, we are live in charleston, south carolina. tonight, newt gingrich, whose performance tonight here will make or break his run at the presidency. no doubt the former speaker is surging in the polls. you can look around, you see that left, right and center. the latest show him within striking distance of mitt romney. he s also ignited a fire storm, slamming the media over his ex-wife s allegation that he wanted an open marriage. i think the destructive, vicious, negative nature of much of the news media makes it harder to govern this country, harder to attract decent people to run for public office and i am appalled that you would begin a presidential debate on a topic like that. i caught up with newt gingrich today about an hour and a half away from here in a town called orangebur ....
release your income tax so the people can see how you made your money. we know why releasing is so hard for mitt. rom nay pays a tax rate closer to 15%, and part of the reason why it s a loophole. not only legal, but pretty standard, but it doesn t feel fair and square. here s the bottom line. he was the founder and partner in bain capital. when you re a partner in a private equity firm, you get a cut of the profits you make. usually, 20%. now, stay with me because what happens here adds up to tens of billions of dollars in lost tax revenue for america. say my buddy, will, you ve probably heard me talk about him. works at cnn. say he invests $5 million in bain capital. and mitt romney, as he has done, does a really good job. he invests will s money well. so a year later, will s investment doubles in value to $10 million. ding, ding, ding, ding, ding. mitt s cut, $1 million. and that money is taxed at 15%. now, the reason this is unfair is that it wasn t mitt romney s ....
happened in that tax return. let s go outfront. good evening. i m erin burnett, outfront tonight, mitt s taxes. now, romney is caving in to the mounting pressure. i think both president obama and hillary clinton released their taxes in 2008. just strikes me that governor romney ought to step and follow the same procedure. i don t know what my effective rate of tax is, but i m fairly confidence it s a lot higher than 15%. mitt, we need for you to release your income tax so the people can see how you made your money. we know why releasing is so hard for mitt. rom nay pays a tax rate closer to 15%, and part of the reason why it s a loophole. not only legal, but pretty standard, but it doesn t feel fair and square. here s the bottom line. he was the founder and partner in bain capital. when you re a partner in a private equity firm, you get a cut of the profits you make. usually, 20%. now, stay with me because what happens here adds up to tens of billions of dol ....
good evening. tonight, mitt s taxes. now, romney is caving in to the mounting pressure. fz. i think both president obama and hillary clinton released their taxes in 2008. just strikes me that governor romney ought to step and follow the same procedure. i don t know what my effective rate of tax is, but i m fairly confidence it s a lot higher than 15%. mitt, we need for you to release your income tax so the people can see how you made your money. we know why releasing is so hard for mitt. he plays a tax rate closer to 15% and part of the reason why is a loophole. not only legal, but pretty standard, but it doesn t feel fair and square. when you re a partner in a private equity firm, you get a cut of the profits you make. usually, 20%. now, stay with me because what happens here adds up to tens of billions of dollars in lost tax revenue for america. say my buddy, will, you ve probably heard me talk about him. say he invests $5 million in bain capital. and mitt rom ....
one of the most conservative members of the senate, jim demint, joins us. let s go outfront. tonight, this. this is a letter from president barack obama. he just sent it to house speaker john boehner. it says, quote, further borrowing is required because the debt is limit to is right now close to, well, 11 zeros and a one. that means we need more money. the president s asking congress to raise the debt ceiling by $1.2 trillion. we knew this was coming because this was part of the deal congress and the president signed in august. okay. that doesn t mean it s going to happen without a lot of noise, fur fury. jim demint has led the charge against the nation s debt problem. his new book is now or never and he is outfront tonight. so, this letter comes. dr. mr. speaker pursuant to section i hear by certify that the debt to limit and further borrowing is required. how does it make you feel? like we said, we knew it was coming. strange that the so-called deficit redu ....