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Derek Thompson

Derek Thompson - Derek Thompson is a senior editor at The Atlantic, where he oversees business coverage for the website.
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He is a visiting research fellow at the Committee for a Responsible Federal Budget at the New America Foundation. Derek has also written for Slate, BusinessWeek, and the Daily Beast. He has appeared as a guest on radio and television networks, including NPR, the BBC, CNBC, and MSNBC.

Here Is Newt Gingrich's 2010 Tax Return

By Derek Thompson
Jan 20 2012, 4:17 PM ET Comment

Newt Gingrich released his tax 2010 tax return last night, revealing that he paid nearly $1 million in taxes on more than $3 million in earned income. Below we've taken a snapshot of the first page of his report. Here's the full thing.




Newt's famously grandiose comparisons to historical figures paint him as an exceptional human being, and when it comes to both earnings and taxes, there is no room for debate: He really is.

Gingrich's income is firmly within the top 0.1% of all earners. In 2011, the cut-off for the top 0.1% of households was $2.9 million, a few hundred thousand dollars below the Gingriches' joint filing. But a 31 percent effective tax rate is similarly exceptional. No surprise there, since Gingrich belongs to the group with the highest average effective tax rate: Those earning between $2 million and $5 million. After that, ETR slides a bit as investment income (which is taxed at a lower rate) makes up more and more of average total income.

effective tax rates by income group 2009.png






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