Mitt Romney Changes Position on Releasing Tax Returns, DNC Attacks With WhatMittPays.com Website
by Charles C. Johnson
Gov. Mitt Romney (Photo source: Christian Science Monitor)
Mitt Romney now says that he will “probably” release his tax records in April after telling NBC in December that he would not, even if he were to become the GOP nominee. ”Never say never, but I don’t intend to do so.” Romney told NBC on December 21st, 2011.
Romney estimated in a press conference earlier today in Florence, South Carolina that he “probably” pays only about 15 percent in federal taxes. The DNC quickly seized on Romney’s declared tax rate to attack him for it, launching a website, WhatMittPays.com, within 24 hours with a built-in income tax calculator that compares Romney’s income taxed under investments to income earned through work. This is, in essence, the DNC’s attempt at rehashing President Obama’s “Buffet Rule.”
Romney’s capital gains tax rate is not all that unusual. After all, most of Romney’s earnings come from capital gains, which is taxed at a lower rate than income.
If elected, Romney promised that he would do without the $400,000 presidential salary, much as he foregone his governor’s salary in Massachusetts. He donated his salary from managing the Winter Olympics and the proceeds from his book, No Apology, to charity. Indeed, Romney hasn’t drawn a regular paycheck since he left Bain Capital in 1999.
Speculation runs rife as to why the former business executive has decided to release his tax records. Perhaps it is past experience with Democrats poring over his tax records.
In 2002, the Democrats sought to use the Ballot Law Commission to invalidate Romney’s right to run in the Massachusetts gubernatorial race. They contended that as Romney had left the state to save the Olympics in Utah, he was in violation of the seven-year residency requirement.
The Democrats’ attorney, Joseph D. Steinfeld, said that Romney had filed income taxes as a Utah resident and received a $54,000 property tax break by listing his Utah home as his primary residence. Romney, who had lived in Belmont, MA since 1971, contended that listing the Utah home as his primary residence was a clerical error, made by a local assessor’s office in Utah, and that he was serving his country at the Olympics and thus could be exempted from the seven-year residency rule.
The Massachusetts Democratic Party tried to get Romney’s private tax returns unsealed, but they were stopped. “Private tax returns . . . are off the table at the outset,” Romney’s attorney, John T. Montgomery, argued to the ballot commission. “As a matter of clear legal procedure, they are simply not entitled to the returns.” (Boston Herald, June 15, 2002.)
Romney ultimately won the argument and kept the Democrats from examining his personal finances, but it was expensive for him. He tried to turn the issue in his favor, cutting ads attacking the Democrats for looking into his tax records.
They are now back, fishing again.
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33 Comments
I'd like Mitt to say, "I will disclose my tax returns when Obama discloses his college and law school grades."
What the HELL is Lame Mc Flips hurry on releasing the tax returns? I want to see them now, as in yesterday, before he sews up any more delegates in the primaries. There might be some disqualifying tid-bit in there. The 2010 return will be fine with me… Waiting till April is a stall tactic.
Maybe we should only offer a lower cap gain rate to investments within the U.S.A… at least until we are out of this O-cession. Never happen! Too damn many multinational conglomerates nowadays.
FIGHT on PATRIOTS!!!
.
I wonder if the other Marxists running for office will release their tax returns? Naah….
I only pay 12% tax on my unemployment. But I'm called back to work next week so I can now pay 15%
This will be a long and ugly election. I'll mostly ignore it and focus on state and local races – because I already KNOW that I will vote against BO, no matter who is the GOP candidate.
Now create:
Obamaisntacitizen.com
Obamahasasocialsecrutiynumberofa deadguyinCTfrom1977.com
I don't understand this issue at all. What difference does releasing his tax returns make? If the I.R.S. is good with it, so am I. Romney didn't write the tax code, Charlie Rangel did. I am safe making the bet that if his taxes were an issue, Obama would have had him investigated and hung by now. If there is one thing this administration knows about, it is ducking taxes. I would rather see a birth certificate, college transcripts and law school grades from the marxist in chief.
Nobama 2012
Since romney's income is mainly from capital gains, it's taxed at the capital gains rate of 15%.
The left plans to use the issue to cry about how the rich get away with paying less in tax than the middle class.
All without mentioning that the middle class capital gains rate is the same 15%.
It's amazing how the left wants transparency from all the GOP candidates, but when you ask for anything pertaining to Obama your just a racist. I would like to see Obama's college thesis and record along with his dealings from ACORN, Tony Rezzco, Wright, Ayers, etc.
Right now he is not running against Obama.
The reason Romney is reluctant to release his tax returns is probably the same reason Obama doesn't release his college transcript. They are embarrassments. In Romney's case it would be an embarrassment of riches. Unless he's not rich at all, and then he would be rich in embarrassment. Romney likely has more money than Soros, maybe more than Buffet, and Obama likely knows it, and relishes waging a campaign against him and his money.
He must think the electorate is stupid. Well…. I guess some are.
Mitt isn't just sitting on a pile of money, his money is lent out to other people in investments – his money is helping others make money using his money…and in the process getting paid to do it. What's wrong with that?? Would it better if he didn't lend it out? If he had 200 million dollars in his sock drawer?
If anything this election is pointing out low Financial IQ scores of the general population – and some others like Gingrich and Perry. We've taught our kids how to wear condoms, and how babies are made. Have we ever taught them how jobs are made? I'd like to see that question come up in an Obama Romney debate. Obama has no idea how to create a revenue producing job.
PS. Soros is a billionaire, Romney has 1/4 of that amount.
Is Romney doing ANYTHING different than ANY other American does by reducing his tax burden-? This is envy from the same who probably do exactly the same…..
Better to release it now versus getting guilted into it later by the obamabytes.
To be entrusted with the power of our highest office, he needed to divulge ALL his tax records before a single primary vote was cast. His failure to do so is demonstration that he has something to hide which will come back to bite us ALL in the butt when Obama's IRS "leaks" his returns.
BTW, Obama owes us his college transcripts and post graduate theses, as well as an explanation of the source of his SSN!
High comedy from the crowd that didn't even ask if obama was remotely qualified to hold that office, let alone has ever seen a single record of his existence on this planet beyond his high school report cards.
Romney should tell these folks he will release his records when president "they can see them when they pry them from my cold, dead, fingers" obama does exactly the same thing.
DNC attacks Mitt…..
While Democrat voters come out in droves to vote for his progressive credentials so he will be the Republican Nominee.
Haven't you folks had enough of the feckless and fake GOP yet?
Your candidate is picked for you by the progressive establishment, in spite of you and all the efforts of placing the GOP in the majority in the HOUSE.
Hammer me all you like, but the only way to find resolution is to turn away from the political factions full of corrupticrats. George Washington was right and he was right to warn all of posterity.
It is time to listen. Seriously.
LibertyWriter, have you not listened to even one Romney stump speech? Every other word is Obama….. He is indeed running against Obama, as opposed to running on his own record as part of the GOP – establishing his republic and liberty defending record.
BWAAHHHHAHAHAHAHHAHAHAHA, I almost got it out without laughing. Yeah, Romney being a defender of Liberty, riiiiiiiiight.
Romney pays the same percentage as Warren Buffett. The Dems don't seem to have a problem with that. I'd rather see the tax returns of Jeff Immelt (GE) and Richard Trumka (SEIU), both of whom are on Obeyme's jobs council.
Since when has he been nominated? He is not answering his challengers in the primaries and if he continues such in the general (if he garners the nomination) then he will surely lose to Obama. Right now I want him to run against Gingrich, Santorum and Perry and convince me he really is a conservative. It may be his to lose, and I fear he ultimately will.
This is a political discussion between conservative voters. Ridicule, substituting for discourse does not advance your cause.
I think he's in the basement trying to get that photocopy doctored before April.
We already know about little Timmy Geithner's tax returns – and John Kerry, and Charlie Rangel, and…..
I may have misunderstood your post.
Well…the key was when he said 'may' release…not will release!
So he flip flops again…on showing America where he is really getting his millions from for his personal finances and his campaign! Got it from bankrupting companies…with the help of his NWO friends…who are also bankrolling his campaign!
Is that what you really want to replace the fraud we have now…with…America? Not me…not me!
I am going to vote for the only 'real' conservative in this race…Rick Santorum!
https://transaxt.com/Donate/PTWALC/RickSantorumfo...
I think Romney is dragging his feet on releasing his tax records because he is "rich" and he's afraid of the media.
If nominated he will have to endure much worse from them.
We need a President that will stand up to the MSM and won't be afraid of them!
http://www.politiseeds.com
Notice the first thing they did was to try and get a court to unseal it? They did it to Jack Ryan and got his sealed divorce papers unsealed, that lost him the election to who? Barak Obama. Anyone else getting tired of courts playing politics regardless of who it is?
As much as some want to make an issue of Mitt being a Mormon, they forget that the Mormon church requires their faithful to contribute 10% of their income to the church. I believe Mitt has a foundation that is connected to the church which he donates to a number of charities. Will be interesting to see if Obama contributes as much as 10% of his income to charity.
If instead of Romney having the 400 Million dollars in wealth, the ball park figure that is normally tossed around, what will people think if Romney has 4 Billion or 40 Billion, or what would people think if he is insolvent or if he has a mere Million dollars in wealth? If they learn this after Romney has sewn up the nomination, Obama is likely to win.
We all know what Obama is hiding by not revealing his college transcripts, and it isn't that Harvard and Columbia are highly over rated; though we know that too, it's that Obama is over rated. The question now is: What has Mitt Romney got to hide that he is so reluctant to release his tax returns?
Me too.
Mitt knew he was running for President so I would expect his returns to show: he has a lot of money, pays around 15% and is very charitable. Beyond that the left will try to demonize him for being successful. Obama, even knowing it will decrease tax revenue, wants to raise the capital gains tax to be more 'fair' (punish the successful). He has publicly stated that. It plays right into his socialist agenda of income equality. He would rather lower everybody’s standard of living to be equal. Hopefully people will be more concerned with their own financial situation than they are jealous about someone else’s.
So let me get this straight. the idiocracy that is the Demokrap party wants Mitt's income tax returns, but they DON'T want Obama's birth certificate or school records or anything else related to Obama released. Is that about right?
Hmm, very strange (NOT)!
I'm no fan of Romney, but I would suggest he say to all of those idiots, "I'll give up my IRS forms when I see Obama's birth certificate, all his school records and a plausible explanation of how he got a Social Security number from Connecticut! Until all of those things happen, pound sand!"
Bravo…millions will join us…guaranteed!
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