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ROMNEY & HIS TAXES.

Updated on September 22, 2012

He should reveal some more; shouldn't he?

Today's media headlines tell a tale of Mitt Romney's tax return for 2011, which he released yesterday. It was incomplete, according to tax experts, and people were wondering why?

Also a report accompanying the tax return summery of about 14% (percent) rate that he and wife Ann paid on nearly $14 million dollars in 2011, covered Romney's tax returns from 1990 to 2009, and said that "his average federal income tax bill came to 20.2% of income, and the average state income payment was 8.36%.". Period; and nothing more.

CNN economy page headline said, "Romney full tax history still a mystery." and other outlets were making similar statements and asking for more of his returns to be made public.

However, Romney's campaign has nothing more to say than, "Romney and his wife, Ann, paid more taxes than they had to in 2011, choosing not to claim deductions for $1.8 million in charitable donations. The Romneys donated just over $4 million to charity in 2011 but claimed deductions on only $2.25 million."; yet, the missing details of their full income made the report inconclusive.

The irony of it all was the tape that depicted Romney as championing the cause of hard working Americans, as opposed to the people that thought the United States government owed them the responsibility to take care of them.

They relied on government programs for health care, food and housing, and if he should be president, he would certainly create more opportunities for "those people" to find work and be productive citizens; thus paying their taxes.

Yet, his own problem was about taxes that he has or has not paid, and he was trying so hard to steer away from it with a bogus report that failed to tell the whole story of whether his finances were in line with the law.

The media would not allow him to get free, as they were saying, "Mitt tax release puzzles strategists" and "Mitt Romney tax history still fuzzy." and adding that "the limited amount of data released leaves fuzzy the important question of what tax rate Romney paid each year." (Politico.com, 9/21/12).

As far as taxes were concerned, Romney should come clean before November, 2012, as many voters, particularly independents, were anxiously waiting to know, if he was a devout tax payer as he was professing to be.

President Barack Obama's policy on taxes has been very clear throughout the campaign, that the wealthy must "pay their fair share in taxes" to enable the government to deal with the deficits that were unavoidable, and also to defray the huge National debt.

It would, therefore, be incumbent upon his challenger in the 2012 presidential election, Mitt Romney, to release more information to comply with Obama's position on taxes, and "to make an accurate assessment of Romney's wealth and tax history", as a senior fellow at the nonpartisan Tax Policy Center wanted him to do.

To exonerate himself from the tax debacle would be the best thing for Romney at present in the campaign; and that would be for him to clearly publish more of his previous tax returns.

The voting public was waiting.

(Footnote: Yesterday's hub had some errors. Sorry about that).

Comments

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    • WritingPrompts profile image

      Karen 

      6 years ago from The Garden of Eugene (Oregon)

      If the Romney's had just released their returns in the beginning anything in them would have come and gone and be over by now. I'm more concerned with the secrecy and the lack of judgement over how this is being played than by what the returns may say.

    • American View profile image

      American View 

      6 years ago from Plano, Texas

      Perhaps if Obama concentrated on his job or put as much effort into it as he does wearing about Romney's tax returns, something might actually get done. Hell, he had one year to come up with answers on sequestration and all he did was submit an incomplete half ass report that was late. Sequestration was the brainchild of Obama, therefore he has no excuses.

      By the way, another part of your article that was wrong with where you say "details of his full income make the report incomplete". Seems from the media reports that I have seen so far have no problem quoting his income came from.

      To say Romney did not pay his fair share is ludicrous at best. Reality is Romney has a lot of his own personal money at risk in multiple types of investments. The profits he makes on them is subject to capital gains tax. Current capital gains tax rate is 15%, and that is what he followed. Therefore, despite your simulations, he did not break the law and he paid his share.

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