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.
There are reports Thursday that Texas Gov. Rick Perry will leave the GOP presidential race, and Iowa officials announced final results of the state's Republican presidential nominating caucuses held earlier this month.
(This post was retopped with the latest news at 11:04 a.m.)
With the South Carolina primary just two days away, Mitt Romney woke up to some troubling news on Thursday: The Iowa Republican Party revisited his Jan. 3 victory in the caucuses.
Party officials announced that a final certification of the votes actually put Rick Santorum ahead by 34 votes. Because some of the results from eight precincts are missing, the Iowa GOP declared the outcome a split decision.
"Rescue efforts have resumed aboard the wrecked Italian cruise ship, Costa Concordia, off the coast of Tuscany," the BBC reports. "Operations were suspended on Wednesday as the vessel shifted its position. More than 20 people are still missing."
The ship, with about 4,200 passengers and crew aboard, ran into rocks on Friday and listed over to its starboard side. Eleven people are confirmed dead.
KNOXVILLE, Tenn. (AP) — A federal judge in Knoxville has ordered a man suspected in a $6.5 million prescription painkiller operation jailed until his trial in March.
The ruling came at a Tuesday detention hearing for Eric Christopher Hefner.
According to the Knoxville News Sentinel, Drug Enforcement Administration agent Bethel Poston testified during the hearing that -by conservative estimate - Hefner brought 260,000 pills into East Tennessee in a single year.
NASHVILLE, Tenn. (AP) — Tennessee lawmakers are proposing legislation that could affect Occupy Nashville protesters.
The measure says a person can’t live on publicly owned property that isn't designated or permitted as residential.
Protesters have occupied the plaza across the street from the state Capitol since early October. State troopers raided the encampment in late October and made 55 arrests, but the state has had to back down.