If Romney releases his tax returns it will show that he has indeed followed the law but it will also verify what the Democrats have been screaming: that the tax code is slanted toward the rich. This would be solidify their argument and the perfect example would be the Republican candidate for President. Harry Reid is probably lying about his "source," but he has put Romney in the tough position of either releasing his tax returns or risking that his surrogates are going to get tired of explaining why he will not release them.
Of course he follows IRS laws. I probably make a tenth of a percent of what he does and the IRS is still up my ass. He's not releasing them because he probably has carried interest issues and all of his other income is ltcg and dividends. He probably pays 15% in taxes and will get demolished when that comes out. The only really bad issue in there would be a large income from Bain which he says he left in the early 2000's.
Rumor is that he paid zero taxes in more than one year when he made 7 or 8 figures. I can see why he will do everything possible to hide that. But sooner or later, it will come out. Offshore tax havens and other tax dodges unavailable to the middle class will go over like a lead balloon.
meanwhile, republicans cant be enamored with the guy, i mean Jeb Bush is a better candidate. In a year where Obama should getting trampled in the polls due to the unemployment rate (fault or no fault of his own) Romney cant seem to really separate himself.
If that is proven to be the case before the election, he will lose in a landslide. I can't imagine that is true and if it is, would you even be able to tell from the tax returns? What I mean is, if the income is not taxable by the IRS, would it even be on there?
I read somewhere that the losses that the ultra-rich experienced during the financial crisis of 2009 were so deep that, coupled with tax shelters and offshore accounts, that it is plausible that he (and many others who experienced deep losses at that time) paid zero taxes. Funny thing is, all of the Republicans are calling bullshit on that. All of them, that is, except for John McCain who's actually SEEN Romney's tax returns when he vetted Mitt for VP.
lol That's the point. They aren't mad because he follows the law. They are mad that the law allows someone who makes tens of millions of dollars annually to pay little to no taxes. Either way he falls right into palm of the Obama Campaign.
