Romney Being Pressured to Release More Tax Returns

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Release the Returns

Ryan Huntsman
ryan@huffingtonpost.com
Posted: 07/18/2012 3:36 pm Updated: 07/19/2012 12:53 am

Mitt Romney is steadfastly resisting calls to release additional years of his personal tax returns, arguing — not without good reason — that this demand is part of a fishing expedition by the Obama campaign, which hopes to exploit Romney’s personal wealth and successful business career as part of a class-warfare election strategy. Romney argues that whatever he releases will not be enough to satisfy the Obama campaign and its factota in the media, who are, once again, proving their bias and double standards.

We doubt that there is anything truly surprising in Romney’s additional personal tax returns (he’s already released 2010 and will release more from 2011). We already know that he has made vast amounts of money, that he gives generously to his church and to charities, that he has set up trusts for his family, that he maintains bank accounts and investments overseas, and that he takes advantages of such benefits as are available to him under our ridiculously complex tax code. If there is scandal to be had of that, it can be had from the information that already is available. But there is no scandal in that: Romney is a wealthy man — and he has complicated personal finances, something that is typical of wealthy men. In fact, Romney’s personal finances are a very good case study in what’s wrong with the American tax system and regulatory climate.

The Romney campaign says he has released as many returns as candidate John Kerry did in 2004, and cites Teresa Heinz Kerry’s refusal to release any of her tax returns. Neither is an apt comparison. John Kerry actually released returns from 1999 through 2003, and also released tax returns during his Senate runs. As for Teresa Heinz, Romney isn’t the wealthy spouse of a candidate, but the candidate himself. In 2008, John McCain released two years of returns, but he had been filling out financial disclosure forms for decades as a senator. Romney protests that he is not legally obliged to release any tax returns. Of course not. He is no longer in the realm of the private sector, though, where he can comply with the letter of the law with the Securities and Exchange Commission and leave it at that. Perceptions matter.

Romney may feel impatience with requirements that the political culture imposes on a presidential candidate that he feels are pointless (and inconvenient). But he’s a politician running for the highest office in the land, and his current posture is probably unsustainable. In all likelihood, he won’t be able to maintain a position that looks secretive and is a departure from campaign conventions. The only question is whether he releases more returns now, or later — after playing more defense on the issue and sustaining more hits. There will surely be a press feeding frenzy over new returns, but better to weather it in the middle of July.

If he releases more returns, Romney will be in a better position to resist the inevitable demands for even more disclosures. More important, he will be in a better position to pivot his campaign to what should be its focus — telling a story, through a series of detailed, substantive speeches, about where he wants to take the country. It is to President Obama’s advantage to fight the election out over tactics and minutiae. By drawing out the argument over the returns, Romney is playing into the president’s hands. He should release them, respond to any attacks they bring, and move on.

http://www.huffingtonpost.com/2012/0...p_ref=politics
Show me the Rmoney! :icon_cool
 

MayrMeninoCrash

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I've given up requesting them, and just assume he's taken major tax writeoffs for the past 10 years for giving money to Al Qaeda and Planned Parenthood. There really is no other explanation
 

Begbie

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#3
Fast/Furious docs for 2 years of Romney tax returns. Sounds fair.

Romney will even throw in his membership registration to The Country Club in Massachusetts for Obama's school records.
 

Neon

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I've given up requesting them, and just assume he's taken major tax writeoffs for the past 10 years for giving money to Al Qaeda and Planned Parenthood. There really is no other explanation
In the same way that Obama cheated his way through Harvard? I agree.
 

MayrMeninoCrash

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In the same way that Obama cheated his way through Harvard? I agree.
Do you really think they are equivalent or are you just playing the Obama deflection game?

Do you think a Presidential candidate should be required to show his tax returns (A tradition ironically started by George Romney in 1968)?
 

Von Maestro

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Do you think a Presidential candidate should be required to show his tax returns (A tradition ironically started by George Romney in 1968)?
He did release his tax returns, and the media proceeded to run with the false narrative of a "15% tax rate", not bothering to understand the distinction between his marginal rate & his effective rate.

Btw, releasing your grades is also tradition for Presidential candidates. Just sayin...
 

Owenay

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I've given up requesting them, and just assume he's taken major tax writeoffs for the past 10 years for giving money to Al Qaeda and Planned Parenthood. There really is no other explanation
Just as I've given up requesting Obama's college thesis that's obviously about the necessity of tearing down republican governments and capitalist economies and institute a global, communist utopia. There really is no other explanation.
 

whiskeyguy

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Do you really think they are equivalent or are you just playing the Obama deflection game?

Do you think a Presidential candidate should be required to show his tax returns (A tradition ironically started by George Romney in 1968)?
I would say Obama's grades are more important, because Romney's successes in the private sector are well documented... while Obama has essentially none. Obama's lack of experience would put more emphasis on his education contributing to his qualifications.

Personally I don't think a presidential candidate should have to show their tax returns. Why? If the IRS accepted them, then that means they paid their "fair share". Education records, voting records from lower offices, experience in the private sector, criminal record, etc would all be more important to me when considering a candidate.

Also Von is right... Romney really has no reason to release the records, because he knows the media is in Obama's camp and will not present the whole story. Personally I think if more than 50% of the news stories that mention capital gains tax don't also mention corporate income tax, the corporate income tax should be automatically eliminated. Obviously people don't care about it enough to mention it...
 

MayrMeninoCrash

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Just as I've given up requesting Obama's college thesis that's obviously about the necessity of tearing down republican governments and capitalist economies and institute a global, communist utopia. There really is no other explanation.
You say that like that's not the common narrative already, with or without the transcripts

I would say Obama's grades are more important, because Romney's successes in the private sector are well documented... while Obama has essentially none. Obama's lack of experience would put more emphasis on his education contributing to his qualifications.

Personally I don't think a presidential candidate should have to show their tax returns. Why? If the IRS accepted them, then that means they paid their "fair share". Education records, voting records from lower offices, experience in the private sector, criminal record, etc would all be more important to me when considering a candidate.

Also Von is right... Romney really has no reason to release the records, because he knows the media is in Obama's camp and will not present the whole story. Personally I think if more than 50% of the news stories that mention capital gains tax don't also mention corporate income tax, that should automatically eliminate the corporate income tax.
Wouldn't Romney control the narrative if he releases them on his terms? Stonewalling will only lead to higher scrutiny on them when/if they are released. And right now the Obama camp is playing up the fact that Romney obviously has something to hide, even if he doesn't. I'm guessing there is something there, either related to Bain Capital's investments, or his offshore accounts that they are trying to keep sealed. Merely showing an effective 15% tax rate wouldn't be devastating, or even mildly surprising at this point, so I have to believe there's something way more shocking on there.

Didn't John McCain see his tax returns in 2008?
 

Neon

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As said above, tax returns are filed with an organization that is meant to act if there is something improper about them. If they didn't, it means there wasn't. All it would serve is fodder for his opponents. No matter what is in there, the liberal media isn't just going to say: "Oh, alrighty then. Carry on." Like Louis CK said about the guy he cuts off in traffic, and then tells him to roll his window down so he can shout at him. "Oh, yes sir. Please allow me to take part in my own abuse."

On the other hand, Obama's college records can hide all sorts of interesting things that would not be otherwise known independently. If Romney cheated on his taxes, you would have known about it already without looking at his tax returns yourself.
 

MayrMeninoCrash

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As said above, tax returns are filed with an organization that is meant to act if there is something improper about them. If they didn't, it means there wasn't. All it would serve is fodder for his opponents. No matter what is in there, the liberal media isn't just going to say: "Oh, alrighty then. Carry on." Like Louis CK said about the guy he cuts off in traffic, and then tells him to roll his window down so he can shout at him. "Oh, yes sir. Please allow me to take part in my own abuse."
Tax returns can be 100% legit per IRS rules and law and still be chock-full of damning information for your opponents to exploit. My earlier example of huge tax deductions to Al-Qaeda front charities, for one.
 

whiskeyguy

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Wouldn't Romney control the narrative if he releases them on his terms? Stonewalling will only lead to higher scrutiny on them when/if they are released. And right now the Obama camp is playing up the fact that Romney obviously has something to hide, even if he doesn't. I'm guessing there is something there, either related to Bain Capital's investments, or his offshore accounts that they are trying to keep sealed. Merely showing an effective 15% tax rate wouldn't be devastating, or even mildly surprising at this point, so I have to believe there's something way more shocking on there.
Romney understands that he controls no narrative in this election. He has very little media backing. His income was solely from capital gains (especially since he volunteered to waive his salary for the Olympics). The media will play to morons that he had millions in income but only paid 15% in taxes... and completely ignore that this would be the second time that money was taxed.
 

Neon

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Tax returns can be 100% legit per IRS rules and law and still be chock-full of damning information for your opponents to exploit. My earlier example of huge tax deductions to Al-Qaeda front charities, for one.
Exactly. Why the fuck should he give his opponents that kind of fodder? "Hey, stupid rich guy, show us your finances so we can laugh about how stupid and rich you are." Obama 2012.
 

Neon

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Wouldn't Romney control the narrative if he releases them on his terms? Stonewalling will only lead to higher scrutiny on them when/if they are released. And right now the Obama camp is playing up the fact that Romney obviously has something to hide, even if he doesn't. I'm guessing there is something there, either related to Bain Capital's investments, or his offshore accounts that they are trying to keep sealed. Merely showing an effective 15% tax rate wouldn't be devastating, or even mildly surprising at this point, so I have to believe there's something way more shocking on there.
Wait, I'm confused. Why are we talking about Fast and Furious and executive privilege all of a sudden? :icon_cool
 

Begbie

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MayrMeninoCrash

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Exactly. Why the fuck should he give his opponents that kind of fodder? "Hey, stupid rich guy, show us your finances so we can laugh about how stupid and rich you are." Obama 2012.
Sounds like a good argument to withhold college transcripts.
 

caniseeyourtaint

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How about releasing these?


  1. Fast and Furious documents. Obama used executive privilege to save AG Eric Holder's behind.
  2. Health reform negotiations. Obama made back-room deals worth millions with lobbyists and legislators.
  3. FOIA requests. Obama is "the worst" at complying with Freedom of Information Act requests.
  4. Real White House guest list. Many visits are secret. Met with lobbyists off-site.
  5. Rashid Khalidi tape. Obama attended a 2003 party for Rashin Khalidi in which a lot of anti-Israel rhetoric was featured. Nobody is releasing the tape. LA Times story.
  6. Small dollar donors. Obama refused to release names of contributors who donated less than $200 even though he's accused of receiving illegal foreign contributions. McCain did this in 2008, why couldn't Obama?
  7. Medical records. John McCain released thousands of pages of medical records. All Obama released was a one-page doctor's note even though he has a history of drug abuse and smoking.
  8. Book proposal. Obama's literary agent said he was "born in Kenya". Why hasn't anybody released the original book proposal.
  9. Academic transcripts. Can Obama prove his merit?
  10. State senate papers. Obama never produced any papers from his eight years as a state senator. He says "they could have been thrown out."

 

Neon

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Von Maestro

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How about 2001 to prove he wasn't involved with Bain Capital at all?
The IRS has access to both the 2001 Tax Return (and all others as well) and if there was any impropriety between those & the actions of Bain Capital, the IRS has everything they need to string him up.

This fishing expedition is one in a long line that we will see leading up to the election, as the Obama camp and their sycophants will do whatever they can to make the dialogue about anything other than Obama's actual record.
 

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Exactly. Why the fuck should he give his opponents that kind of fodder? "Hey, stupid rich guy, show us your finances so we can laugh about how stupid and rich you are." Obama 2012.
He's actively refusing to release it. Sorry if I don't take his word for it that it could be very damaging. If it's all just ridiculous bullshit, what's the big problem releasing it?