When the American people ask Mitt Romney for something, they shall receive! Sort of. After being pressed for quite some time to release his tax returns, and yesterday afternoon -- ironically at a time when most people are shutting down their computers and taking their eyes off of news tickers for the weekend -- the Republican candidate's campaign offered up his personal 2011 tax return, along with a brief "summary" of what he's paid over the last 20 years.
All in all, what Romney revealed is no big surprise. He paid an effective federal income tax rate of 14.1 percent on nearly $13.7 million in income last year, but he could have taken a lower rate -- about 12 percent, according to one estimate. And he decided not to take all of the charitable deductions he could have, taking credit for $2.25 million instead of the full $4 million for which he was eligible. So, bravo for that. But major questions still remain ...
Mostly because no one really cares about Romney's 2011 return! The guy knew he was running for president that year, so obviously he was more conscious of handling his taxes in a way that would appear acceptable if they went public. He picked his own tax rate in 2011, purposely paying more than he owed, intentionally taking fewer deductions than he earned in 2011. So, in essence, it's not a true reflection of what his finances are. What we really want to see are the tax returns for previous years -- dating back to 2009 and beyond.
Instead of releasing those actual returns, the GOP candidate had his accounting firm, PricewaterhouseCoopers offer a generalized report that states Romney had an average federal income tax rate of 20.2 percent between 1990 and 2009 and that his rate never fell below 13.7 percent. That's all well and good, but again, why can't we see the actual returns?
Quite simply, this glaring lack of information doesn't make Romney appear particularly forthcoming or trustworthy. Being that there is a standing tradition of presidential candidates releasing at least 5-7 years worth, how can we help but wonder what he's hiding? When he ran for president in 1968, Romney's own father, George Romney, released 12 years of returns. By 2004, George W. Bush had released 13 years' worth. And yet, voters are supposed to blindly accept the two most recent tax returns and a "summary" from Romney? Guess we'll see on Election Day if the American people are really as a-okay with that as the Romney campaign seems to think.
Check out voters sounding off on what they make of the new details from Camp Romney ...
What do you think about the info Romney's already released? Do you think he needs to release more returns?
Image via Tony Alter/Flickr
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Comments 53
Only if you have a burr in your ass that you can't get out....................
The man has done nothing illegal.
What do you think Hollywood millionaires do?
Romney has given 10s of millions to charity.
The man released the papers, and people still aren't happy. I don't know why people want to see the tax returns because at the end of the day it won't pay off any person's credit card debt, student loan debt, mortgage, it won't give anyone a pay raise or give anyone a job.
You also failed to mention that he does give a certain percentage of his income to charity. Even though I'm not voting for Romney, it's kinda like, "Damn! Does anyone have anything nice to say about him? Is he really THAT 'evil'?"
Romney’s tax rate is still LESS THAN HALF of the AVERAGE Middle Class American! This is the epitome of GREED. There's no doubt a Romney administration would favor the rich and increase the income gap in our country? Mitt is a pariah in Mormon Clothing and will stop at nothing to expand tax cuts for the 1% of the wealthiest Americans. He’s out to gut the Middle Class for every red cent he can get. Will his sacred Mormon underwear grant him the protection and money to buy this election? See for yourself as Mitt dons his tighty-whities sent down from the Good Lord Himself at http://dregstudiosart.blogspot.com/2012/05/mitt-romneys-magic-mormon-underwear.html
Sweet Jesus at least he FILED them. I am STILL trying ot figure out where in H E Double hockey sticks an administration that has hired HOW MANY tax evaders?! Has ANY legs to stand on with this?! If ANYthing they should be running fromall things IRS related!
I sitll have yet to ever hear evidence that Mitt Romney is trying to raise taxes on the middle class? Also, don't blame the guy that the law allows to have such a tax rate. It is not his fault investments are taxed at a different rate than wages. And considering most American's have wages not investmates that's the way the cookie crumbles. Blame the system not that guy. Liberals are even complaing that he chose to pay a higher rate by not taking the full charitable deduction because "it was all a ploy to look good." Are you freakin kidding me? Warren Buffett says I'm willing to pay more and he's a god, MItt says I DID pay more than I legally had to and all of the sudden it's not genuine, it's all for his own gain.
I'm with Momof3 at least he managed to successfully file them every year, unlike oh say the guy in charge of the treasury!!!???