Republicans look over horizon to Super Tuesday - AP - msnbc.com

WASHINGTON — Republican presidential candidates Mitt Romney and Rick Santorum, battling furiously for the most conservative perch before the critical Michigan primary vote on Tuesday, also are looking just over the horizon a bonanza of delegates in the 10-state nominating contests that fall on one day just a week later.

Romney and Santorum are virtually tied heading into the critical Michigan vote where the outcome could further boost Romney's tenuous front-runner position or upend the race for the party's nomination to challenge President Barack Obama in November. Michiganders vote on the same day as Arizona Republicans. Polls show Romney with a clear lead in the conservative far-Western state.

The Michigan showdown will be a warmup to the one looming March 6 in neighboring Ohio, one of the 10 states that hold nominating contests on what is know as Super Tuesday.

Santorum, who is banking on a move to the hard right, called Obama a "snob" over the weekend for promoting higher education for all young Americans who want to continue their education.

"President Obama once said he wants everybody in America to go to college. What a snob," Santorum said. "There are good decent men and women who go out and work hard every day and put their skills to test that aren't taught by some liberal college professor to try to indoctrinate them. Oh I understand why he wants you to go to college he wants to remake you in his image."

Speaking at the White House to Democratic governors on Monday, Obama took up the education issue but did not mention Santorum.

Obama said many states are cutting too deeply into education funding as a way to balance their budgets, and he urged governors to hire more teachers and restore funding to public education.

Obama said that education funding is critical if the U.S. is to remain competitive with other nations, saying that other countries are "doubling down" on education funding.

Santorum also again played to conservative Christian Republicans on Monday. He said Obama had turned freedom of religion "on its head."

"I'm for separation of church and state. The state has no business telling the church what to do," Santorum said in a speech to a business organization in suburban Detroit.

Romney, meanwhile, shifted his line of attack from the cultural issues and conservative rhetoric he used over the weekend and instead insisted that Santorum doesn't know how to create jobs.

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"I understand why jobs go, why they come, I understand what happens to corporate profit, where it goes if the government takes it," Romney told a crowd at an electrical warehouse.

Romney currently leads in the race to amass the most delegates with 123. Santorum has 72, while former Speaker of the House of Representatives Newt Gingrich and Texas Rep. Ron Paul have 32 and 19, respectively. The totals include endorsements from Republican National Committee members who will automatically attend the party's national convention and can support any candidate they choose.

A candidate needs 1,144 delegates to secure the nomination.

Both Arizona and Michigan each lost half their delegates for defying the national Republican party by holding their votes before March 6.

The winner in Arizona, where Romney is favored, will take all 29 of the state's delegates. But Michigan will divide its 30 delegates by giving 2 to the winner of each of the 14 congressional districts in the state. The final 2 delegates are awarded in proportion to the statewide vote, probably to the top two candidates, if both get more than 25 percent of the vote.

Before Super Tuesday, Washington state holds caucuses on Saturday. Forty delegates are at stake. In the March 6 Super Tuesday vote 419 delegates are up for grabs.

The vote in Michigan on Tuesday will test former Pennsylvania senator Santorum's far-right message on social issues and determine how badly Romney has damaged his chances in his native state by continuing to insist that Obama was wrong to bailout the U.S. auto industry, the heart of the state's ailing industrial base.

The auto giants General Motors and Chrysler Corp. have come roaring back from near-collapse after a huge infusion of federal money, managed bankruptcy and wrenching reorganization. Romney's opposition to that Obama program has hurt him in Michigan, where even the Republican governor and GM chief, also a Republican, flatly disagree with Romney. Polls show Obama with a double-digit lead over both Romney and Santorum in the Midwestern state.

As the Republicans battle for the nomination, all of them, including Gingrich and Paul, now trail Obama in national polls. The president has seen his approval ratings improve in tandem with signs that the struggling U.S. economy is finally on the way toward a robust, albeit still shaky, recovery from the Great Recession of 2007-2009.

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Mitt Romney to release tax returns Tuesday (Reuters)

WASHINGTON (Reuters) – Mitt Romney said on Sunday he will release tax returns for the last two years this week and admitted the flap over his returns hurt him in South Carolina, where he lost a primary to Newt Gingrich.

"I will release my tax returns for 2010, which is the last returns which were completed, on Tuesday of this week," Romney said on Fox News Sunday. "And I will also release at the same time an estimate for 2011 tax returns."

"We made a mistake holding off as long as we did and it just was a distraction," the former Massachusetts governor added.

Gingrich won 40 percent of the vote in the South Carolina primary on Saturday, while Romney came in a distant second with 28 percent.

Romney, one of the wealthiest U.S. presidential candidates in history, emphasized he was releasing two years of returns after Gingrich posted his returns for only 2010 on Thursday.

Gingrich and other Republican rivals attacked Romney in debates last week, asking why the former private equity executive would not release his returns.

Romney had said he would release them in April and also paved the way for the disclosure by saying he paid a tax rate of around 15 percent, below many American wage earners, but in line with wealthy individuals who earn income from investments.

Romney said his returns will be posted on his website.

(Reporting By Mary Milliken; Editing by Philip Barbara)

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Romney to release his tax returns on Tuesday (AP)

WASHINGTON – Republican presidential candidate Mitt Romney said Sunday that he will release his 2010 tax returns and 2011 estimates on Tuesday, acknowledging it was a mistake for his campaign not to have done so earlier.

Stung by a loss to Newt Gingrich in Saturday's South Carolina primary, the former Massachusetts governor and venture capitalist said it was "not a good week for me" and he cited all the time he had spent talking about his tax returns as his rivals pressed him to make them public.

After months of resistance, Romney had said last week that he would release tax information for 2011, but not until April, close to the tax filing deadline. That also was seen as a time, before the South Carolina race rattled his front-runner status, when the GOP nomination might have been decided.

"I think we just made a mistake in holding off as long as we did. It just was a distraction. We want to get back to the real issues of the campaign: leadership, character, a vision for America, how to get jobs again in America and how to rein in the excessive scale of the federal government," Romney told "Fox News Sunday."

Romney disclosed on Tuesday that, despite his wealth of hundreds of millions of dollars, he has been paying in the neighborhood of 15 percent, far below the top maximum income tax rate of 35 percent, because his income "comes overwhelmingly from investments made in the past."

"Given all the attention that's been focused on tax returns, given the distraction that I think they became in these last couple of weeks," Romney said in the broadcast interview that he would release his 2010 returns and estimates for his 2011 returns at the same time "so there's not a second release down the road."

"We'll be putting our returns on the Internet, people can look through them," Romney said. "It will provide, I think, plenty of information for people to understand that the sources of my income are exactly as described in the financial disclosure statements we put out a couple of months ago.

During 2010 and the first nine months of 2011, the Romney family had at least $9.6 million in income, according to a financial disclosure form submitted in August.

Further focusing attention on his wealth was Romney's offhand remark to reporters that his income from paid speeches amounted to "not very much" money. In the August disclosure statement, he reported being paid $373,327.62 for such appearances for the 12 months ending last February. That sum alone would him in the top 1 percent of U.S. taxpayers.

In addition, Romney owns investments worth between $7 million and $32 million in offshore-based holdings, which are often used legitimately by private equity firms to attract foreign investors. Such offshore accounts also can enable wealthy investors to defer paying U.S. taxes on some assets, according to tax experts.

An Associated Press examination of Romney's financial records identified at least six funds set up in the Cayman Islands, a small Caribbean island chain that has long been used as a base for international investments because of low tax rates and financial secrecy. Romney has acknowledged that some of his investments are based in the Caymans, but he has not identified all of the specific accounts and the amounts based there. There is no indication Romney uses the accounts to dodge any U.S. tax obligations.

"Cayman Islands account so-to-speak is apparently an investment that was made in an entity that invests in the United States, the taxes paid on that are full U.S. taxes," Romney said.

The Caymans have often been associated with individuals and corporations seeking to avoid paying U.S. taxes. It is legal for U.S. residents to own investment accounts that are set up there, if they file the proper forms with the Internal Revenue Service and pay the appropriate taxes.

"I know people will try and find something," Romney said, adding, "We pay full, fair taxes, and you'll see it's a pretty substantial amount."

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