CORAL SPRINGS, Fla., Jan 25 (Reuters) - Republican presidential candidate Newt Gingrich, leading the race for next week's Florida primary, on Tuesday slammed President Barack Obama's millionaire's tax plan as "stupid."
Obama proposed in his State of the Union speech on Tuesday that those making more than $1 million a year would pay an effective tax rate of at least 30 percent and lose their tax deductions.
Gingrich, the former Speaker of the House of Representatives, said Obama did not appear to realize the extent of his proposal.
"I'm not sure he understood what he was saying," said Gingrich. He said the plan would mean doubling the capital gains tax from 15 percent for millionaires.
Gingrich said he was expecting clarification from the White House because if it did hike the capital gains rate, "that'd be so stupid even they couldn't defend it."
The issue of taxes has become a flash point in the presidential race after Republican candidate Mitt Romney disclosed this week he paid about 13.9 percent of $42 million in taxes.
Gingrich is leading Romney in opinion polls for the Florida primary vote on Tuesday.
For complete campaign coverage please see (Editing by Cynthia Osterman)
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