September 10, 2012

Romney: Show me The Taxes

Update: September 21, 2011 Today Mitt Romney released his 2011 tax returns and a letter from his accountants summarizing his taxes back to 1990. I have two comments related to this,
  1. Mr. Romney did not take the full deduction that he was entitled to for his charitable deductions in 2010. If he did, his effective tax rate would have been under 10% instead of near 13%. Further, he can in the future file an amended return and get a further refund from the IRS.
  2. The summary of his income taxes going back to 1990 is no substitute for disclosing the returns. Remember, it his his accountants that prepared the summary and secondly all the details of these returns were not released. This is no way to build trust. 
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It is appalling that we are less than 60 days from a presidential election and we only have seen one year of Romney's tax returns and the country is OK with that. Do we take our politics seriously.

If a young person applies for a student loan he must supply more than one years worth of income documentation. If the Obama administration gives out a grant to promote clean energy without reviewing financial records over several years there would be a months worth of congressional hearings.

I really don't expect anything new will be found by the release of his returns for at least 5 years; it will verify that Mr. Romney is very wealthy, he used every legal means possible to protect his income and he was generous in giving to charity.

My problem is with the public not taking their right to vote seriously and not requesting he release his returns.... More

3 comments:

  1. Amazing. You people have been screaming for months for Romney to release the tax returns and then bitch about when he does. Face it, the tax returns have turned out to be a non issue and it drives you nuts. So what if he paid more than required? Isn't this what the 99%'ers want? For the rich to pay more? Well, he did pay more and it drives you nuts.

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  2. Anonymous. You are missing the point. I as a voter feel I have a right to review more than 2 years of taxes. When I buy an apartment the bank requires I provide at least 3 years of taxes. They would not accept ""my advisers" telling them that the rest of his returns are fine.

    I also acknowledge that Romney has a right to refuse to show me anymore years of taxes. At that point, I may exercise my right not to vote for him.

    My demands have nothing to do with expecting to find something wrong with his returns. That does not mean I don't want to see them

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  3. Hmmm. He must have a very silent accountant. Back home, tax accountants in perth are busy towards the end of the year that it would be difficult to get one. It is required by law to provide reports on taxes, how come only one year for Romney?

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