Tagged: Election 2012

Like the saying goes in his home state, everything about Texas Gov. Rick Perry's presidential campaign was big.

From the start of his candidacy, when he garnered instant front-runner status in some polls, to his embarrassing debate performances and his slide to the back of the pack, Perry's bid for the Republican nomination seemed outsized. So, too, were the expectations.

On Thursday, Perry left the GOP race and strongly endorsed former House Speaker Newt Gingrich, citing his "heart of a conservative reformer."

If Newt Gingrich got a boost for his prospects in South Carolina on Thursday with rising poll numbers and an endorsement from rival Rick Perry, his second ex-wife, Marianne, seemed to be doing her best to dampen his prospects with an ill-timed interview on ABC's Nightline Thursday night.

Mitt Romney's tax returns and the tax rate he paid on his income have been hot issues in the recent Republican primaries.

"What's the effective rate that I've been paying? It's probably closer to the 15 percent rate than anything because my last 10 years, my income comes overwhelmingly from investments," the GOP front-runner recently told reporters.

So why does a multimillionaire pay just 15 percent on his income? After all, the top income tax rate is 35 percent and many middle-class people pay over 20 percent.