Why won't Romney release his tax returns?

[Chutney Daftcraft]

I bet he got out of a whole lot of taxes. He will literally make the argument for balancing the tax code, and they'd rather lose the election than let that happen.

They're better off to lose this one when you look at the big picture. They don't want this mess.

[Sic semper tyrannis]

We love you Chutney!!!!

[Sic semper tyrannis]

Dang-it I am the greatest!!

[ministerswife]

Does anyone else see that this whole thing gives a new meaning to "follow the money"? I think that if all the monies spent on the election(s) is paid in taxes owed (or if taxation were actually equal would be but because it's not is not) by all the millionaires and billionaires, the economy would be the least topic in any campaign. But, hey, what do I know; I'm just an old lady.

[Chutney Daftcraft]

Old ladies always know a lot! It's true, those who benefit from certain things are the ones who set them up that way [for their benefit] to begin with.

[itsapyr]

I loved this. It was from a Ron Paul site
http://www.dailypaul.com/247483/romn...ys-tax-returns

[cindylu]

... it's his damn freakin' arrogance that will lead to his defeat in November!!!

When he was running against Kennedy, Romney defined what a "Blind Trust" was as Kennedy had a couple. Well, look at Romney's returns for 2010 (they are posted and on line in PDF form) he has a couple of blind trusts. So, while I certainly don't fault him for trying to keep as much of his money as possible he may just end up tripping himself on his own arrogance. If these guys were smart they wouldn't have called attention to the other guy cause now all the crap is going to hit the fan.

[Tony]

I loved this. It was from a Ron Paul site
http://www.dailypaul.com/247483/romn...ys-tax-returns

This is interesting.

"It's time the biggest-taxing senator in Washington shows the people of Massachusetts how much he pays in taxes," Romney said in April of 1994, according to a report in the Boston Globe.

But after following several links, nobody actually links to any Boston Globe story saying this. Could it actually be true?

[cindylu]

Yep, now they're calling to view Harry Reid's tax returns.

[StickonFreeze]

Yep, now they're calling to view Harry Reid's tax returns.

Of course, there is no end to THIS arms race. Release 2 years of tax returns? We want 5. Release 5? We want 10. Release your Hawaii birth certificate? We want your college transcripts!

If the Obama campaign believes something is awry with Romney's financial past, they should just come out and say it. Otherwise, stop demonizing the guy for being wealthy. Alas, class warfare is pretty much SOP for the Democratic Party.

[BigTom]

If Romney had done anything illegal concerning his taxes Obama's people would already have disclosed it, so apparently everything in his taxes have been done legally. Why such a big deal about seeing his tax returns? So they can demonize Romney for being successful. I would rather have someone in the White House who was a successful businessman than someone who wasn't.

[cindylu]

I'm beginning to believe its now a matter of control --- "He can't make me do this"!!

StickonFreeze is correct when will this stop. It won't. This Genie really is out of the bottle.

[itsapyr]

Harry Reid isn't running for president. I don't care that Romney is rich. I actually used to like the guy when I lived in Utah but seriously aren't all of you just a bit curious how he got a $100M IRA when most of ours were on the down trend and have limits of what can be put in of which he is supposed to be under those same rules? I truthfully wish he would show them just so we can get on. If he did something wrong it better come out now and not after the election...He could be impeached. My guess is he didn't do anything illegally but sure did utilize every loop hole that is out there for the rich. He is cronies with a whole lot of the Abramhoff people and that is scarey enough.

[cindylu]

Yes, that top heavy IRA is very interesting. Mine earned $4 plus change this year but it isn't close to a gazillion.

I know everyone uses loopholes so nothing wrong with that but seems like he makes it his mission to find every single loophole. Talk about being miserly.

Has anyone heard someone proposing to do away with claiming the interest and personal property taxes as deduction??

[BigTom]

Harry Reid isn't running for president. I don't care that Romney is rich. I actually used to like the guy when I lived in Utah but seriously aren't all of you just a bit curious how he got a $100M IRA when most of ours were on the down trend and have limits of what can be put in of which he is supposed to be under those same rules? I truthfully wish he would show them just so we can get on. If he did something wrong it better come out now and not after the election...He could be impeached. My guess is he didn't do anything illegally but sure did utilize every loop hole that is out there for the rich. He is cronies with a whole lot of the Abramhoff people and that is scarey enough.

I don't care how he got his IRA, I assume it was done legally or we'd already have heard about it from one of Obama's super pacs. Considering the other fairy tales they've made up imagine what they could do with the truth. As far as I know there are no limits on what you can contribute to your IRA and mine has gone up not down. Maybe you should find a better financial planner?
Why is it when successful people utilize tax laws to their advantage they're called "loop holes"? Did you not deduct things like mortgage interest on your taxes? Isn't that a "loop hole"?

[itsapyr]

Deducting mortgage interest definitely is NOT a loop hole. Suggest you look up the meaning and my IRA is doing fine NOW it sure didn't in 2008. I don't like super pacs for either side they both are a PAC of liars and I don't get my info from either. There are definitely limits to what you can contribute to an IRA and what is and isn't taxable and it varies greatly that is why I am saying " show us". This guy is running for president based on his business know how so show us, teach us, let us see it.

[StickonFreeze]

Deducting mortgage interest definitely is NOT a loop hole. Suggest you look up the meaning and my IRA is doing fine NOW it sure didn't in 2008. I don't like super pacs for either side they both are a PAC of liars and I don't get my info from either. There are definitely limits to what you can contribute to an IRA and what is and isn't taxable and it varies greatly that is why I am saying " show us". This guy is running for president based on his business know how so show us, teach us, let us see it.

No, that's not why. You want him to have done something illegal or something that will help draw votes away from him. THAT is what this is all about. To say otherwise is disingenuous.

It's the same reason Republicans want to see Obama's college transcripts. They want to catch the President in a lie.

[Davdu]

You want him to have done something illegal or something that will help draw votes away from him. THAT is what this is all about.

Yes, mostly! Romney is a 1%er, born that way, lives that way, and will retire with over $100M in his 401K and will probably keep the presidential pension rather than donate it to charity (if elected). He is suported by many other 1%ers and his mission parameters are to make them even wealthier during his administration (if elected). He's smug, boring, and uninspring. And Obama, ... he's a "post turtle" who hasn't done jack squat! Boy do I fear the next four years!!!

[StickonFreeze]

Yes, mostly! Romney is a 1%er, born that way, lives that way, and will retire with over $100M in his 401K and will probably keep the presidential pension rather than donate it to charity (if elected). He is suported by many other 1%ers and his mission parameters are to make them even wealthier during his administration (if elected). He's smug, boring, and uninspring. And Obama, ... he's a "post turtle" who hasn't done jack squat! Boy do I fear the next four years!!!

And therein lies the indefensible, thoroughly un-American core position of the Democratic Party. Success is discouraged; dependency on the government is the ideal.

[BigTom]

Deducting mortgage interest definitely is NOT a loop hole. Suggest you look up the meaning and my IRA is doing fine NOW it sure didn't in 2008. I don't like super pacs for either side they both are a PAC of liars and I don't get my info from either. There are definitely limits to what you can contribute to an IRA and what is and isn't taxable and it varies greatly that is why I am saying " show us". This guy is running for president based on his business know how so show us, teach us, let us see it.

My accountant encourages me to invest as much as I can afford into my IRA each year and tells me there are no limits on what I can invest. That's the advice of a CPA and my financial planner says the same. What you concider loopholes are simply legal methods of paying a lower tax rate just like the mortgage deduction. Do the wealthy have more deductions/loopholes than the average person? Hell yes! They should they have alot higher tax liability. Remember people who make over $250,000.00 annually pay over 70% of taxes paid to the federal goverment. To expect them to pay more without expecting it from others is nothing more than jealousy.