Santorum is party's poor relation – with a salary of $1m
But wealth of 'poorest' candidate sets him apart from blue-collar image he is trying to project
Latest in Americas
Related articles
On Facebook
From the blogs
Disclosure: We’d never even been to a club when we made our first single
For most of us, reaching eighteen years of age opens up a new world for exploration, spontaneity and...
Top of the posts: Drunken rants, the Western Fail and misogyny pushers
The most read blogs this week, as determined by stats.
Sepp Blatter: Penalty shoot-outs must remain, they’re football’s great leveller
As England supporters, we should scorn at any such deciding factor within football. On so many occas...
Why do some men consider the street as a female meat market?
Pronouncements on sexual inequality in the UK are normally met with an eye roll by my generation. As...
VIEW GALLERY
Just as he is presenting himself to voters in two Midwestern states as the son of a coal-mining family with strong ties to blue-collar America, Republican hopeful Rick Santorum has released four years of tax returns that show earnings hovering around $1 million (£633,000) a year since leaving Congress in 2006.
While the wealth of Mr Santorum, an ex-Senator from Pennsylvania, seems paltry beside that of Mitt Romney, whose front-runner status in the GOP nomination contest he is trying to usurp, it does not tally with the pick-up truck narrative that has helped him connect with religious conservatives. Among the more surprising details in the filing: Fox News has paid him almost $250,000 as a commentator.
A poll last night from the Detroit News showed Mr Santorum leading Mr Romney by 34 per cent to 30 per cent in Michigan, which holds a primary election on 28 February. While it may be a statistical dead heat, the numbers will only pile new pressure on Mr Romney, for whom Michigan was meant to be a firewall. He was born in the state and his father, George Romney, served as governor there. A loss there next week to Mr Santorum could be devastating.
The Santorum tax filings could be helpful to the Romney camp as it tries to brand Mr Santorum both as a Washington insider and member of the grubby "K Street" lobbying club in the capital. While not registered as a lobbyist, Mr Santorum has drawn a large portion of his earnings in consulting fees for corporations, notably in the energy and medical sectors, which benefited from his support while he was a Senator.
Mr Santorum, who campaigned yesterday in Michigan and Ohio, which will be one of 11 states voting on Super Tuesday in two weeks, likes to stress his western Pennsylvania roots. But since he lost re-election to the Senate in 2006, he has settled in a four-bedroom house in Virginia close to Washington on five acres, worth $1.4m in 2010.
Still serving as a senator in 2006, Mr Santorum earned around $165,200 annually. But his financial picture improved sharply upon leaving and setting up his consulting company, Excelsior LLC. According to his filings he earned $659,000 in 2007, $952,000 in 2008, $1.1 million in 2009, before dropping slightly to $923,000 in 2010.
Still, Mr Romney will have to direct his fire carefully, not least because Mr Santorum earns 4 per cent of what he takes in each year. The filings also show the Santorum family paying double the tax rate applied to Mr Romney, whose effective 13.9 per cent tax rate is a sore point with many voters. Most of Mr Romney's income comes from investments – hence the lower bracket – while Mr Santorum has actually worked for his.
How much? Candidate earnings
Mitt Romney
Earnings in 2010 $21.6m
Tax rate 13.9%
How? The former Massachusetts governor has three homes and lives mainly on income from investments built during his years at the private equity powerhouse Bain Capital.
Ron Paul
Net worth Between $2.4m and $5.4m
Tax rate Unknown. He says he has no intention of publishing his tax return.
How? The 76-year-old physician turned congressman turned presidential candidate reports an annual income of $91,185 from a medical pension, and has an investment portfolio stuffed full of mining stocks.
Newt Gingrich
Earnings in 2010 $3.1m
Tax rate 31%
How? The former House speaker has built a network of businesses since leaving office 12 years ago. Most of his wealth comes from Gingrich Holdings, an umbrella company for a collection of lucrative enterprises.
Rick Santorum
Earnings in 2010 $923,000
Tax rate 31%
How? The former Pennsylvania Senator has seen a sharp rise in his personal wealth since leaving office thanks to his growing work as a Washington-based corporate consultant and media commentator.
- 1 Brazil rocked by abortion for 9-year-old rape victim
- 2 News in pictures
- 3 Britain's waste: Now it's coming back to haunt us
- 4 Tory chief Warsi failed to declare rent income from flat
- 5 In pictures: The bewildering face of China
- 6 Osborne to face questions over links to Murdoch
- 7 Facebook: The shares shenanigans
- 8 Is Ridley Scott the most macho man in movies?
- 9 Günter Grass attacks Merkel for Athens policy
- 10 Exclusive dispatch: Assad blamed for massacre of the innocents
- 1 Brazil rocked by abortion for 9-year-old rape victim
- 2 Society: The only way is Finland
- 3 Osborne to face questions over links to Murdoch
- 4 Fat? Really? Olympic hope laughs off official’s jibe – but others aren’t amused
- 5 Is Ridley Scott the most macho man in movies?
- 6 'Hello mum, this is going to be hard for you to read ...'
- 7 Exclusive dispatch: Assad blamed for massacre of the innocents
- 8 Coke reveals its secret: It may need to carry a cancer warning
- 9 French in uproar over oral sex anti-smoking posters
Experience the Heineken Hub
Get free wi-fi and exclusive i content while you enjoy a tasty pint of Heineken at participating pubs.
Can you imagine a career in teaching?
Be inspired to teach - let real teachers show you how rewarding the job can be.
Playing a game-changing role during the Games
Cisco is providing the solutions for London 2012's complex IT needs.
Enter the latest Independent competitions
Win anything from gadgets to five-star holidays on our competitions and offers page.
Business videos from commercial thought leaders
Watch the best in the business world give their insights into the world of business.
Career Services
Day In a Page
The secret life of the red carpet
Up and away – how '7 Up' went global



Comments