Why won't Mitt Romney make his tax returns public?

CSM ^ | 10/26/11 | David Grant

[freespirited]

Rick Perry wants Mitt Romney to cough up his form 1040s (that’s the US individual tax return document). The Romney camp demurred, saying they would consider doing so next year. (Remarkably, Romney has NEVER released, even during his governorship of Massachusetts.)

Why won’t Romney do it? Speculation, from liberal group ThinkProgress and others, is that Romney pays a way lower tax rate than many Americans because of his extensive financial investments, from which income is typically taxed below that of regular income. One left-leaning analyst speculates Romney paid an effective tax rate as low as 14 percent on his $6.6 million to $40 million in income. (The range is so wide because of the imprecise nature of Romney’s very limited disclosures.)

To put that in perspective: In 2011, a married couple filing together would have to make under $69,000 to have their top tax rate be 15 percent. Uber-rich Warren Buffett says he pays 17 percent in taxes....

if predictions about Mitt Romney’s tax situation are true, he would have to go in front of ordinary Americans at every debate, town hall and rope line saying he was looking out for their interests while paying a vastly lower amount of his substantial wealth in taxes.

Perry - who paid 23.4 percent of his 2010 income of a bit north of $200,000 to the federal government - is no doubt hoping Romney’s tax return would write the attack lines for him.

[freespirited]

He probably owns a lot of muni bonds and pays no interest on income from them.

[freespirited]

He probably owns a lot of muni bonds and pays no interest on income from them.

Oops, that should read he pays no TAXES on the income.

[wolfman23601]

I’m no fan of Romney, but he has been a private citizen for 6 years. Why SHOULD he make his tax returns public? That might be the dumbest thing I’ve ever heard.

[4buttons]

Who cares.

[ozdragon]

Romney should offer to reveal his tax returns in exchange for Obama’s college and law school transcripts

[ozdragon]

Romney should offer to reveal his tax returns in exchange for Obama’s college and law school transcripts

[Ramius]

I don’t think there’s any reason for a candidate to reveal their personal financial records, unless there is evidence of something illegal. I’d settle for vetting each candidate by an independent accountant, who then writes an opinion about the propriety of their taxes, and that’s it. The actual numbers are really nobody else’s business.

[Diogenesis]

The buyers of the 911 Victory Mosque credit Mitt Romney.

Perhaps Milt took a deduction and is hiding it?

"(The GroundZero Mosque) cleared its final hurdle ….
developers plan to build the $100 million center which will include a mosque.
Since its incipient stages in July 2009, when a Muslim-run real-estate development
company purchased the damaged, vacant building and land where the new center
will be built, the project has sparked controversy and debate.
.... the tattered building that was bought by the Muslim real estate company had
been owned by a subsidiary of Bain Capital, a company Romney founded in 1984.
So it’s OK if his company can profit off the sale of the land ."

[ngat]

...he has been a private citizen for 6 years. Why SHOULD he make his tax returns public? That might be the dumbest thing I’ve ever heard.

Mitt Romney has been running for public office for 6 years. In the mean time he has had no visible means of support. So how does he do it? Inquiring minds want to know!

[Scoutmaster]

I’m no fan of Romney, but he has been a private citizen for 6 years. Why SHOULD he make his tax returns public? That might be the dumbest thing I’ve ever heard.

I may be grossly mistaken, but I believe it's standard operating procedure for Presidential candidates to release their tax returns. It's not required; it's just done.

That's how we know that Al Gore barely made any charitable contributions, or that Bill Clinton took charitable deductions for donated used underwear and running shoes. I don't know that all candidates at this stage release theirs, but Obama releases his and you can bet a refusal by Romney to release his if he is the Republican nominee (I just threw up a little in my mouth) will be seized upon by the Obama camp.

And the media will jump on it - even though they don't care that Bill Clinton wouldn't release his medical reports, or that Obama won't release his college and law school transcripts.

They will make it look as if Romney has something to hide.

[ngat]

“I don’t think there’s any reason for a candidate to reveal their personal financial records,”

In this day and age where all our candidates are career politicians who have been milking the crony-socialist system from the day they graduated law school, you see no reason for them to show how they became the government-made millionaires they are?

[mk2000]

I tell you if a liberal group wants it he should release it as quickly as Barry released his birth certificate and other things.

[nonsporting]

Romney should cough up his birth certificate, educational records, etc., anything that might have a bearing on "qualifications" and ask for candidates from both parties to comply first.

That ought to shut them up.

[ngat]

“Who cares?”

Anybody who is interested in seeing that the republican party does not run a sure loser against the democrats in 2012. You don’t think this isn’t an issue that the opposition is holding back to drop like a bomb at the appropriate time?

[wolfman23601]

I’m sure he makes boatloads off his investments. Who cares? None of our business.

[Diogenesis]

Given Romney’s connection to Soros via JET Blue,
Milt has much to hide, no?

[Zakeet]

Why won't Mitt Romney make his tax returns public?

Letting my mind wander a little ...

• We know that Willard Windsock is an LDS Bishop and Stake President. These positions require a Temple Recommend.

• We know that one of the primary worthiness requirements for receiving a Temple Recommend is payment of a full tithe ... 10 percent of all income.

• We know that disclosure of Willard Windsock's tax returns would enable Saints to instantly determine how much the RINO pitches in each year.

• We know that there have long been rumors of dual standards concerning compliance with the Word of Wisdom, the Witness, and the Law of Tithing for prominent LDS members ... one set of rules for the Chiefs and another for the Indians if you will.

Might it be possible that the RINO's release would indicate a glaring exemption from the rules for earning godhead and thus cause dissension within the ranks of the faithful?

Many of you know far more about this problem than I ... what say you?

[ngat]

No. That is ridiculous. Why do you think there are financial disclosure laws in the first place?

[wolfman23601]

His tax returns aren’t going to that kind of detail. Just raw numbers.

[Diogenesis]

There are on his returns (if the Romney returns are truthful)
his payment to the illegal aliens,
and the payments for the fake badges where he was
caught in 2 states directing his Team
to impersonate LEO,
and his received payments from IAG and
the 911 Victory Mosque via Bain.

There is a LOT for Bishop Romney to hide.