The Romney Tax Forms

Have you been following the controversy over Mitt Romney and his income tax forms? He’s released last year’s and promises to release this years. He says he will release no more. Today on TV his wife reiterated that point.

People have speculated on what’s hidden away. My guess is everything is legal… ‘creative,’ but legal.

It’s possible he’s listed his occupation as CEO of Bain Capital in years he said he wasn’t. There are already papers saying that. Some have speculated he might have taken advantage of an amnesty concerning Swiss bank accounts. That’s pretty far fetched.

Governor Romney has completed the disclosures required by law. There’s no legal obligation to do more.

I have a selfish reason for hoping he does.

Our tax system is set up to be gamed by the well to do. All us poor(er) people assume that happens, but we have never actually seen how it happens. The Romney tax forms would be a peek into a secret world most of us will never live in.

The truth is many of the tax loopholes and tricks wealthy people use have only one purpose and it’s not job creation. It’s tax avoidance! And these are loopholes Governor Romney himself lobbied for.

As Governor Romney has said, he pays what he owes and not a penny more. Hey, that’s just like you and me.

The difference is there are more ways for high income families to shelter their money from taxes. The Romney tax forms would make additional or even continued tax relief for high income earners a lot more difficult to sell.

Governor Romney is in a difficult position. I don’t know that it will be possible for him to be elected without releasing the forms. He probably already worries it won’t be possible to get elected if he does.

Stay tuned. This story has legs.

4 thoughts on “The Romney Tax Forms”

  1. I follow this every day and the more I hear the more I think my vote is going to come down to the very day of the election, in fact perhaps up the the very moment I cast my vote. Obama is by far my first choice for anything but he has done some “creative” things during his term as President. Although not perfect by far, there is something telling me not to trust Romney, but I can’t bring myself to say I will vote for Obama.

  2. I wish the media was equally agressive in requesting Obama’s college records, and his medical records. How about Obama’s invlovemnt in the tax payer fiasco known as Solyndra (repayment to major campaign contributors??).

    How about reminding the US public how successful Obama’s regime has been in reducing unemployment, with Real unemplyment over 15%. The defict has exploded, with his Union pay back programs, ala the TARP waste of tax payer money, and bail out of many companies.

    How about some media attention on the Fast and Furious fiasco, where Obama’s team directly led to the Death of a US Border Agent. Then AG Holder will not cooperate with a Valid congressional investigation. It sure seems likley that Obama was aware of that ridiculous scheme, as it developed.

    Then we could have some analaysis of the Biggest Middle Class tax increase, aka Obamacare.

    As a quip I saw today, why is the media more concerned about how Mitt earned his money, when Obama is taking it all away?

    1. My problem isn’t that President Obama is trying and succeeding slowly, it’s that Governor Romney’s method of business practice is exactly how we got here in the first place! Governor Romney’s businesses had executives and wage slaves. Look at Staples, which is so highly touted. Is that an American dream career choice?

      As has happened in the past the pendulum of democracy has swung too far to the right. It’s gone both ways in my lifetime. I have not always voted Democratic, even in presidential elections, for that reason.

      As an employee I don’t want to live in a world where businesses run as Governor Romney ran his businesses. It’s that simple. Governor Romney amassed his fortune without creating new products. His business method gets more favorable tax treatment than the person who started the business! How is that right?

      I want businesses to thrive, but the biggest problems for the companies I’ve worked for in the last 30 years is debt! Cashflow positive businesses were no longer profitable enough to pay their notes. They couldn’t not pay the loans, so they cut elsewhere. This is Romney’s guiding business principle. It was very successful for him, but much less so for those who worked for him.

      Governor Romney’s methods of business are the poster child for what Republican’s want. If that’s what you want, so be it.

      You know, “Biggest Middle Class tax increase, aka Obamacare” is not true. Politifact says it’s “Pants on Fire.

      I agree Fast and Furious was terrible, a fiasco. However, I doubt it reached anywhere near the president. I agree those responsible should be held responsible.

      Solyndra too a mistake. As with Governor Romney, not all investments pay off. He’s the first to admit that.

      I am concerned with the Romney’s money, because I would like to shine a light on the tax code’s favorable treatment of those with higher incomes. Remember, carried interest gets favorable treatment because of heavy duty lobbying by Governor Romney and others.

      He’s been ‘retired’ since ’99. He is not a job creator. Why is his tax rate so much lower than mine?

  3. Rromney should be a magician. He’s great at diverting our attention away from the things we want to know. Did ya ever notice when asked a question he never answers the question? He always replies with “Let me explain it this way…” and then goes off to never, never land.

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