Romney and Gingrich battle over money matters

Mitt Romney and Newt Gingrich’s fight for Florida and the states beyond reached boiling point as Romney’s tax returns showed annual income topping $20 million — and a now-closed Swiss bank account — as Gingrich insisted his consulting work for a mortgage giant that contributed to the housing crisis did not include lobbying.

After a night of mutual sniping in a debate, the two leading GOP presidential candidates tried to turn the arguments over their various business dealings to his own advantage. Romney’s release of two years’ worth of tax papers, showing him at an elite level even among the nation’s richest 1%, focussed on the two men’s money and how they earned it.

Romney’s income put him in the top 0.006% of Americans, according to Internal Revenue Service data from 2009, the most recent year available. His net worth has been estimated as high as $250m.