Mitt Romney's New Tax Returns Raise More Questions Than They Answer (VIDEO)

mitt romneyWhen 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

2012 election, mitt romney, taxes

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cecil... cecilmansmom

OMG Romney realeased a couple of his tax records but Obama hasn't released any of his records at all all we have to go on is Obama's word oh what are we gonna do 


 


oh my goodness


 


This proves it THIS PROVES IT ROMNEY IS EVIL AND OBAMA IS GOD.can of worms

Flori... Floridamom96

Actually it isn't, Brandt. Romney paid standard income taxes on that money when he earned and now he's paying taxes again on the returns on his investment. Actually it's double taxation. How much in taxes do you pay?

NatAndCo NatAndCo

Welcome to how Obama supporters felt with the whole birth certificate crap.

nonmember avatar Estella

"The man released the papers, and people still aren't happy." -Pink
"See the problem is is that the liberals and media did not find what they were looking for." - Bills

Gosh, if only we could think of another situation where someone released their papers, yet an indignant group of people STILL weren't happy. If only something like that had already happened to a candidate. OH WAIT.

Now, I'm not taking a side here because I don't believe that either President Obama or Governor Romney need to release ANYTHING to anybody, but I am here to call HYPOCRITICAL on yo' asses. I believe there is a maxim for this: Tolerant for me, but not for thee.

bills... billsfan1104

Who talks about the birth certificate except for a couple of people, Nat. Romney has been accused of being a tax cheat on the Senate floor, by a sitting Senator. Noone has done that about Obama's birth certificate.

the4m... the4mutts

You all realize that its a TRADITION to show tax returns, not a law? *to the best of my undestanding*

If its not law, then well, frankly, he broke tradition. Oh well. How many times had Obama broken tradition? I can think of several little ways, and a few larger ones.

Obama has given more executive orders in his 4 years than any other president that I can think of.

You will NEVER know every,damned,detail about ANYONE, including your spouse, much less our friggin politicians. Calm your tits ladies.

Newle... Newleaf32

Romney is a honest person. He gets my vote.

jen1130 jen1130

Wow he showed the returns....ok good maybe if Obama released all his records Romney would feel like he should release more : )

He has got my vote just for being any body but Obama & a democrat.

nonmember avatar Guest

"The Democrats Will Never Stop Shrieking That They Have Some Sort Of 'Questions' About Mitt Romney's Tax Returns."

There, fixed the title for ya!

As you noted, Romney has been pursuing a second career in politics for some time. All of his tax returns have been "vetted" by the IRS! The IRS, (often illegally used a political weapon by the democrats, and currently pursuing vendettas against a number of conservative political groups and donors) staffed by union career bureaucrats who tend to vote 95% democrat, would be delighted to pounce if they could find an undotted "i" or uncrossed "t" anywhere in a Republican politicians tax return. It is pretty safe to say that he would be highly motivated not to "cheat" and that if he did, it would have been caught. Lacking some sort of, you know, actual evidence to support the allegation, there is no basis for the hate filled shrieking of hate filled slander in that regard.

As for his tax rate, Romney is retired from his business career where his wages would have been taxed at the top rate. He is now "retired", pursuing a second career, living off of his savings. He has held several positions during this time when where he refused to accept a pay check. Thus, a correct comparison of tax rates would be to what other retirees generally pay when they retire.

nonmember avatar Guest

continued...



Oh, and talk about a hypocrisy bomb, "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" OMG!!! What you describe has been a consistent tactic of the OWEbama administration, and yeah, like THIS is somehow not going to be something the democrats are going to continue making up lies about all the way to November! LOL!!!




BTW, can you name some democrats who have come anywhere close to matching him either in dollar amount or percentage in charitable donations? Let's make it easy, how about some that have done half as much?




So, who are you voting for to lead the way out of our economic mess, the successful businessman, or the failed politician?



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