You can use,
head, sep, tail = line.strip().partition(" ")
The whole program becomes like this
with open("Input.txt") as inFile:
for line in inFile:
print line.strip().partition(" ")[2]
Output
MG -5.000000000000E-01 -5.000000000000E-01 0.000000000000E+00
S 1.558454815345E-01 1.558454815345E-01 2.500000000000E-01
O 2.189546044408E-01 -1.271822846411E-01 4.012978695812E-01