Great analysis here: http://www.motherjones.com/kevin-drum/2012/07/why-romney-afraid-let-anyone-see-his-tax-returns Henry Blodget says he doesn't think Mitt Romney is trying to hide anything illegal by refusing to release his tax returns. Rather, he thinks Romney simply doesn't want it to become clear just how carefully he's structured his income over the years. If it did, everyone would learn that: This "structuring" of income has likely taken full advantage of things like the ludicrous "carried interest" tax exemption that allows private-equity investors to pay capital gains taxes on income that is actually fees [This tax treatment is one of the most outrageous and unfair elements in the entire tax code. There is no logical basis for it, and it benefits only the richest people in the country.] This "structuring" has also likely taken advantage of offshore accounts, the contribution of hard-to-value securities at low valuations to Romney's IRA (whereupon they exploded in value), and other sophisticated tools. These tools are, theoretically, available to anyone, but, in practice, are available only to those with tens of thousands of dollars to spend every year on tax-and-estate planning. This structuring, which (let's be honest) is done primarily to avoid paying taxes, will look bad to most Americans, who will know instinctively that it's done to avoid paying taxes and that it's not something they will ever be able to afford to do — and, therefore, will seem unfair. Maybe. Like Blodget, I also doubt that Romney has done anything illegal, and probably not anything that's even too close to the line. And yet, it somehow seems as though there must be a little more there than just evidence of aggressive tax avoidance. Blodget thinks that would outrage the American public, but I'm not sure I buy that unless there's some pretty shady stuff there. But then again, I'm not exactly plugged into the id of the average American. Maybe Blodget is right.
I'm waiting for Obama to call this BS out. Of course, the wall street crowd has given a lot of $ to his campaign but I hope he has the balls to call a spade a spade. This isn't about the people making 250k plus either, this is about the people making millions and not paying their fair share. I think this is one of those issues that could unite the Occupy & Tea Party movement which has seemed alienated on party lines. Both groups want reform, this seems like a great place to start.
Even republicans are starting to freak Growing Republican Chorus Pushes Romney To Release Tax Returns On Thursday, Rep. Pete Sessions (R-TX), who heads all House GOP campaign efforts, told reporters that questions about Romney’s holdings were on target, “His personal finances, the way he does things, his record, are fair game,” Sessions said. While he declined to name a specific amount of information or number of years’ worth of tax returns Romney should release, he called the issue a “legitimate question.”
yeah, i don't get why republicans are asking Romney what he is hiding. I guess the you are the only true patriot left in the country. Oh wait, I meant troll.
If he has done things that are going to outrage the American people in the last 6-7 years that would show up on his returns then he is an idiot and that alone should disqualify him from president. He's known he was going to run for a long time now. He ran in the last election and should have been preparing at least a few years before that. There's no reason he should be unable to release 5-6 years of clean tax returns.
IMO, its because the transcripts are moot and irrelevant. And he knows that there will be a few idiots on the right that are going to make a big stink about it and distract themselves and others from the issues. Keeping them ignorant and thus... Moot and irrelevant. Voters with half a brain, from both the right and the left, can tell the difference and realize that there is true relevance in Romney's tax return and not in Obama's undergraduate transcripts.
Unless you're the 43rd president of the United States. http://news.investors.com/article/6...a-must-include-college-transcripts.htm?p=full
Another reason Mr. Romney won't release his tax returns is because it will verify the truth that he was CEO of Bain long after he says he left. Probably confirms he lied on SEC forms as well (which is a felony).
