The Senator from Nevada, Reid, says a Bain Capital employee told him Mitt Romney did not pay taxes for 10 years. If this proves to be true, does this change anything? Won't some people simply regard Romney as more of a hero, wishing they could do the same thing.
Just more unfounded attacks trying to keep the subject off of the economy.
It was an alleged Bain Capital investor, not an employee... I've invested in stocks, funds, and currencies, and I've never seen a fund manager's personal tax returns...
What I'm trying to get at is: would it make a difference. Some are saying no. Other's say it's just a distraction. I'd imagine it would hurt Romney with small business people who do not have his kind of write-offs--the dozens of companies in the Caymans.
If he hasn't paid taxes, how come he's still in the running? Time the Inland Revenue (or your equivalent) caught up with him. Over here he wouldn't be able to stand for office with a record like that... 10 years???! Who's in charge of chasing up tax debts in your part of the world - is that one law for the rich...?
We talk about it this way, alancaster149: You file your tax return with the Internal Revenue Service. There are many different forms you can use if you make lots of money and dozens that allow for tax exemptions. So, what the person was telling Senator Reid was that Romney had so many exemptions from his dozens of overseas companies that he owns, he paid no taxes for t0 years.
It is not that he did not file. That's a criminal offense.
Romney's release on his taxes fits the curve that most candidates have followed...a one to two years. With regard to whether or not tax evasion is involved, it is fairly common knowledge that people with complex tax returns are often give erroneous tax advice which later proves to put them into an "evasion" status at some point if an audit locates the issue. That is not necessarily a basis of guilt. It would take far more than something like that to sway my vote. I am not necessarily a Romney fan within the context of the field that ran for the nomination. At the same time, for me and many others, this election is not about getting my candidate in the race so much as it is keep the Obama Administration out of office for another term. This administration is the poison pill which will destroy this country given enough time to do so. That breakdown hinges on breaking our financial back and then our will. I love freedom and liberty to much to give it up for some idealist to occupy the White House on the premise of fundamental transformation. His plan as he presents it to the people is an "empty suit" that offers absolutely nothing in the way of improvement for any sector of America. Hang with it another four years and see what your vote buys...God Bless Us All. WB
Hey, thanks, Wayne. If I hear your right, the issue is that Ronmey did not break the law, not that he didn't pay any taxes for those years (which is still unproven).
I don't know how to respond to the other part of what you said. All I know is that a few small business owners have said they were getting refunds on their health insurance policies for thier employees. Others said the healthcare thing didn't matter--that it was the slow growth of the economy that was killing them..
I'm an individualist so I do not follow either party on this stuff. I'm just interested in what others think. That's what got me into the tax issue. Thanks.
Actually, there quite a few candidates and presidents who have released a lot more than 2 years of filings.
If the "precedent" is being set by the current administration, Mr. Romney owes the public a decade+ of his returns.
http://www.taxhistory.org/www/website.n … taxreturns
If by change anything, you mean in terms of voting. it may change independents. People are generally hostile to tax cheats. If you combine that with him being wealthy and out of touch, it's a recipe for defeat.
THIS JUST IN. Romney lied to the election commission in Massachusettes in 2002. You have to be a 7 year resident to run for governor. Romney said he filed his taxes in Massachusettes all the time he was in Utah doing the Olympics.
Then someone checked. There were no tax returns in Massachusettes. Romney then said that he believed he filed in Massachusettes, but that his accountant simply handed him the forms to sign. Romney said he never checked to see that they were Utah state tax returns. Nor did he check to see that he got a $47,000 deduction on his home for being a Utah resident.
Why does this story sound familiar? And what kind of a guy signs forms without looking at them?
I don't think the tax thing matters. Right now the issue is the bold-face lies. Right? Or, are we back to the original thing, that most people just don't care about any of this? They'll vote party line and believe what they are told.
Romney paid his taxes. Not all of Obama's cabinet did, however, remember? the most likely scenario is that Romney doesn't want his investments made public. And - he's fulfilled the release requirements, so any more taxes are a moot point. This is kind of Birthers Part Two. Funny, but also kind of sad.
...and here, actor/director, Wesley Snipes, is sitting in prison for:
Not even evasion of tax payment, just for not filing as a high income/profile individual. Romney -and the rest- make more and are higher profile folks. But they are exempt because they are running for the highest office in the land? Ha! What a country...
And the truth shall set you free
On October 12, 2006, Wesley Snipes, Eddie Ray Kahn, and Douglas P. Rosile were charged with one count of conspiring to defraud the United States under 18 U.S.C. § 371 and one count of knowingly making or aiding and abetting the making of a false and fraudulent claim for payment against the United States, under 18 U.S.C. § 287 and 18 U.S.C. § 2. Snipes was also charged with six counts of willfully failing to file federal income tax returns by their filing dates under 26 U.S.C. § 7203. The conspiracy charge against Snipes included allegations that he filed a false amended return, including a false tax refund claim of over US$4 million for the year 1996, and a false amended return, including a false tax refund claim of over US$7.3 million for the year 1997. The government alleged that Snipes attempted to obtain fraudulent tax refunds using a tax protester theory called the "861 argument" (essentially, an argument that the domestic income of U.S. citizens and residents is not taxable). The indictment said Snipes used accountants who already had a history of filing false returns to obtain refund payments for their clients. The government also charged that Snipes sent three worthless, fictitious "bills of exchange" to the Internal Revenue Service (IRS) in the amounts of $1,000,000 (on November 30, 2000), $12,000,000 (January 18, 2001), and $1,000,000 (September 10, 2002), each accompanied by an IRS tax payment voucher coupon.
Snipes was a client of American Rights Litigators, which Kahn operated. As a client, Snipes gave a percentage of his tax refunds to Kahn's organization. The government also charged that Snipes failed to file tax returns for the years 1999 through 2004.
In a December 4, 2006, letter from Snipes in response to his indictment, he declared himself "a non-resident alien" of the United States; in reality, Snipes is a U.S. born citizen.
What I hear is Snipes got off on 3 misdemeanor charges at 1 year apiece....was caught using a false South African passport in 2005! Thanks for leading me to this stuff.
We'll never know what Romney's record is. LIke one of George W. Bush's friends told me: the rich write their own biographies (and hence, the public does not know the W that his frinds do).
This time its a guy who doesn't pay taxes.
Last time it was a guy who wasn't born in America.
Before that it was a draft dodger who almost bombed out of college.
Before that was ... an unending cycle of the same crap... boring candidates and partisan lies about them.
When are people going to wake up and realize that we are only ever going to get the candidates that the plutocracy decides we're going to get? They don't put people in who are going to upset the apple cart. Only the shock of colossal tragedy gives our presidents a chance to really lead now, and then it's the luck of the draw to find out if they have any real character or not. The rest is just us going through the motions while the ghosts of Washington, Jefferson, Madison and Adams writhe in agony watching what we have done to the gift they gave us.
I'm no fan of Mitt Romney, but I believe he did release tax forms for 2010 and 2011. Here's a link that claims to have that information, along with Obama's tax information
http://www.taxhistory.org/www/website.n … axReturns/
I think the problem is that he didn't release an important form associated with his overseas accounts in 2010. I think he should release more than he has, but I also think our Congress and Senate should release information yearly as well, along with the president.
Thank you mperrottet. That was interesting. I went over the Romney's 2010 return. What's of note is that there is no clue as to where the $20 million in capital gains came from. Yes, from 4 trusts, but what's in these trusts? There also isn't a clue why the Romney's paid a million in overseas taxes in the last 3 years. I bet they own Toyota!
I love how this works.
Romney is a Republican.
He is therefore guilty....as far as the Democrat left is concerned.
Nothing else need be said....he is a Republican and that's all it takes.
All he has to do is release his tax returns going back a few years more. By refusing to do so he's inviting speculation which may or may not be accurate. What does he have to hide?
It's clear Ralph.
Romney's money mostly comes from investments. He probably lost money in the crash.
The only thing the media and Obamites would say would be 'Look, Romney didn't pay taxes in 08! What a crook, not paying his fair share!'.
What does Obama have to hide? What does Holder have to hide? Funny I do not hear this from the left. Funny how all of Congress shut up about tax returns when it was discovered they were profiting on investments do to their political actions.
I think all these guys get off to easy when running for office, I think they all need complete disclosure rules to follow before running for office like these
http://www.housefireproject.com/the-pol … -bill.html
that would explain why when the Mc Cain team saw his tax returns they went with sarah palin.and why he is willing to suffer the consequences for not making them public that will carry on all the way through election day.
That is one of my concerns--the Palin thing. But the other issue is actually the lying, Romney saying was out from Bain in 1999, and there he is signing documents for them as sole owner in 2002. That's about all I want explained. Show me those tax years. I know, it sounds stupid, but those years of Bain outsourcing jobs and taking people's pensions through structured bankruptcy kind of sticks in the caw.
I only say this because I believe Romney and Ryan are serious about in-sourcing Medicare to private companies. I like Medicare. It took care of grandma and mom and might work for me if they don't shoot me for writing so much b.s. that the zoombies come after my flesh!
It's been explained.
A former chairman of the SEC explained it. While Romney was at the Olympics, he wasn't involved with any decisions at Bain. He was an absentee CEO.
The SEC requires that the CEO be listed on certain forms, no matter whether or not the CEO was active at the time.
Romney's name appears on those forms. There aren't any instances of his signature that show active involvement.
That makes it worse, not better, Jaxson.
He collected the moolah from the actions of HIS company but will not take responsibility as CEO for what the company did?
Where does the buck stop???
Once again, Mr. Romney tries to have it both ways.
the right wing loons will do anything to chip away at what they consider the mother of all sins , the new deal and the great society.
It's not going to make a difference. Romney is "toast" and will be back paddling, on the defensive until Novermber. He's not capable of an offense at this point. Dems need control of House. That's where their attention should be directed now.
he probably won't win with that being known to the public. But now you gotta ask yourself, why was Wesley Snipes sent to Federal Prison for not paying taxes.
I think he'd just show them if there wasn't anything that would anger the middle class. We pay taxes every year, so why can't he if this is really true. If he hasn't paid any, he should be ashamed of his lack of supporting the country.
I like to know how he contributed so much into his IRA when the rest of us are limited per year! Something fishy about this guy Romney! He could put Reid's accusations to bed if he would just release his returns. I wonder why he chooses not to? And in the same breath tells Reid to Put up or Shut Up!
No, it doesn't change a thing. Regardless, President Obama is the best man for the job!
by Credence2 8 years ago
In recent history, every presidential contender has had to show the American people that he or she conducts their affairs in an open and honest way. Mitt Romney is not the exception. His resistance to releasing these returns, as encouraged by many in his own party, creates a reason to believe that...
by ElSeductor 7 years ago
I am astonished that people have put aside Mitt Romney's campaign simply because he had a better delivery style than Obama during the debate.
by Dr Billy Kidd 8 years ago
Turns out that Romney showed the press a partial tax statement for 2010. It was discovered thereafter that a significan section of his tax form is missing. That part, by law, tells what the overseas investments do. For example, does Romney's company in the Cayman Island hold controllling stock in a...
by Holle Abee 7 years ago
McCain released two years of tax returns. Reagan released one. Romney has released two. It wasn't a big deal with McCain and Reagan. Why is it now?http://factcheck.org/2012/07/romney-and … precedent/
by Ashantina 9 years ago
If you could change anything about the way you were raised, what would it be?
by scoop 7 years ago
Did Obama release tax returns?Has President Obama released his tax returns recently or at all?
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