What's in Mitt Romney's tax returns?

[Chris_]

From The Transom via RedState.

So what about the years before 2009? We know Romney turned over more than two decades of returns to the McCain campaign during the veepstakes vetting process. What was in them? “Mitt’s taxes were complex, but clean.  He overpaid his taxes.

[thundley4]

If that is true and there is nothing there, then he needs to release them, and then start hammering Obama on his hidden crap.  Fast and Furious, Solyndra and other failed green companies with ties to bundlers should be the main targets.

[NHSparky]

Fine, thundley, but all in due time.  If he does it now, it'll be forgotten by August.

Do it in late September/early October, and Obama won't be able to weasel his way out, especially knowing the economy is a pile of warm runny crap.

[thundley4]

Fine, thundley, but all in due time.  If he does it now, it'll be forgotten by August.

Do it in late September/early October, and Obama won't be able to weasel his way out, especially knowing the economy is a pile of warm runny crap.

That's true, because the MSM will be all to eager to move on to something bad about Romney ASAP.  The closer to the election, the better, within reason of course.

[Kyle Ricky]

McCain has said that there is nothing in Romney's tax returns that will hurt him. The man is one of the most sqeaky clean candidates we have ever had. And obama and the MSM are trying to making him out to be the most corrupt candidate we ever had.

[zeitgeist]

Fine, thundley, but all in due time.  If he does it now, it'll be forgotten by August.

Do it in late September/early October, and Obama won't be able to weasel his way out, especially knowing the economy is a pile of warm runny crap.

Bingo.  That is pretty much what I think as well.  DUmmies will go nuts when the rug is pulled out from under them on this one. Talk about taking the wind out of Obie's sails when Romney say "I'll show you mine when you show me your ___________" (fill in the blank with whatever you like there is so much to chose from).

Note to Obie, never let yer double action telepromptered mouth over load your single action asshole.  It will be put up or shut up time soon enough.

[CG6468]

I don't think he should release any more than he already has. Why fall victim to the demonrats' smarmy game? Let them sink in their own shit.

[Chris_]

I don't think he should release any more than he already has. Why fall victim to the demonrats' smarmy game? Let them sink in their own shit.

I'd like to see him wait so Barry's team continues to spin their tires and go nowhere.

[rich_t]

I don't think he should release any more than he already has. Why fall victim to the demonrats' smarmy game? Let them sink in their own shit.

My thought as well.  Why give the dems anything that they can possible spin into against him?

[James Cessna]

If that is true and there is nothing there, then he needs to release them, and then start hammering Obama on his hidden crap.  Fast and Furious, Solyndra and other failed green companies with ties to bundlers should be the main targets.

Have you seen these latest results?

The Obama team will be demoralized by this report. What will they do now?



There are roughly 123 million taxpayers who earn under $100,000, or about 88 percent of the 140 million Americans who filed a tax return in 2009. In other words, 88 percent of all taxpayers pay 8 percent or less of their income in income taxes.

 Which gets us back to Mitt Romney's effective tax rate of 14 percent, after deductions. As the chart shows, this rate is still higher than the average rate paid by taxpayers earning up to $200,000. There are about 136 million taxpayers who have adjusted gross incomes less than $200,000, or 97 percent of all taxpayers. So even with an average tax rate of 14 percent, Romney paid a higher average rate than 97 percent of his fellow Americans.

Source: http://taxfoundation.org/blog/even-14-romney-pays-higher-rate-97-his-fellow-americans

[Penrod]

I like the idea of when Obuma releases his transcripts and the like then Romney will give him 2 or 3 more years worth of returns. You show me yours and ill show you mine lol.

[Kyle Ricky]

I like the idea of when Obuma releases his transcripts and the like then Romney will give him 2 or 3 more years worth of returns. You show me yours and ill show you mine lol.

obama (he doesn't deserve to have his name capitalized) will never release his records. Mostly for the fact that he knows it will crucify him. They will show him to be the biggest liar in Presidential history.

I agree that Romney shouldn't release anything. And when it gets closer to the election, start hammering obama for not releasing his records, and hammer Holder for not releasing the Fast and Furious records.

[docstew]

obama (he doesn't deserve to have his name capitalized) will never release his records. Mostly for the fact that he knows it will crucify him. They will show him to be the biggest liar in Presidential history.

I agree that Romney shouldn't release anything. And when it gets closer to the election, start hammering obama for not releasing his records, and hammer Holder for not releasing the Fast and Furious records.

Disagree with the bolded part. Romney should release EVERYTHING. He should choke the MSM with voluminous amounts of tax returns and affadavits from forensic accountants and retired IRS agents stating that he not only wasn't a tax cheat, but that he paid more than the law required.

Then he should start hammering O about all the records he has hidden. Make O pay for it in the court of public opinion by channeling his inner Reagan and saying "Myself and O are applicants for a job. I have provided you with all the documentation that you've asked for, and then some. Your other applicant has spent millions of dollars to hide his. Who do you trust more?"

[Kyle Ricky]

Disagree with the bolded part. Romney should release EVERYTHING. He should choke the MSM with voluminous amounts of tax returns and affadavits from forensic accountants and retired IRS agents stating that he not only wasn't a tax cheat, but that he paid more than the law required.

Then he should start hammering O about all the records he has hidden. Make O pay for it in the court of public opinion by channeling his inner Reagan and saying "Myself and O are applicants for a job. I have provided you with all the documentation that you've asked for, and then some. Your other applicant has spent millions of dollars to hide his. Who do you trust more?"

You make a good argument. 

[thundley4]

Disagree with the bolded part. Romney should release EVERYTHING. He should choke the MSM with voluminous amounts of tax returns and affadavits from forensic accountants and retired IRS agents stating that he not only wasn't a tax cheat, but that he paid more than the law required.

Then he should start hammering O about all the records he has hidden. Make O pay for it in the court of public opinion by channeling his inner Reagan and saying "Myself and O are applicants for a job. I have provided you with all the documentation that you've asked for, and then some. Your other applicant has spent millions of dollars to hide his. Who do you trust more?"

Let's not forget the tax cheats that Obama appointed to his cabinet, and all the ones that currently work in the White House and some even directly under Obama.

[TexMex]

The chart about effective tax rates is incorrect. The chart I provided is from the Tax Policy Center which is non-partisan.

Lets be honest, it doesn't take a genius to figure out that human nature is to do the thing that causes the least pain.  Clearly Mitt Romney was hammered for two weeks about his tax returns, and there is no question that it will and has affected him in the polls. Obviously the Romney people have calculated that if he releases the returns, it will be MORE damaging than the heat he will got by not releasing them.  Plain and simple. Risk vs Reward.  Any pundit or analyst with half a brain will tell you this.

As far as tax rates go, have you all forgotten that just because someone files his return and paid $0 in federal tax, that doesn't mean he didnt pay 5-8% in payroll tax out of their paycheck, + state sales tax on all the goods they buy, + road tolls and other fee's. For example in New York, we have an 8.5% income tax rate, 8.875% sales tax, and 7% payroll tax. So even if I paid NO state and fed taxes, I STILL have paid 16% of my entire income in taxes which is more than Mitt Romney paid....Mitt Romney may make 10,000x as much money as me, but that doesn't mean he buys 10,000x more paper towels than me to be taxed on and it means he stops paying payroll tax after $10,000.  A New York family making $75,000 with no mortgage will pay:

15% fed inc
8.8% state inc
8.9% sales tax on say $38,000 worth of goods = 4.5%
6% payroll taxes
----------------
TOTAL: 39% of all income paid in taxes even though his fed tax rate is only 15%.  Why is this fair?

[Kyle Ricky]

The chart about effective tax rates is incorrect. The chart I provided is from the Tax Policy Center which is non-partisan.

Lets be honest, it doesn't take a genius to figure out that human nature is to do the thing that causes the least pain.  Clearly Mitt Romney was hammered for two weeks about his tax returns, and there is no question that it will and has affected him in the polls. Obviously the Romney people have calculated that if he releases the returns, it will be MORE damaging than the heat he will got by not releasing them.  Plain and simple. Risk vs Reward.  Any pundit or analyst with half a brain will tell you this.

As far as tax rates go, have you all forgotten that just because someone files his return and paid $0 in federal tax, that doesn't mean he didnt pay 5-8% in payroll tax out of their paycheck, + state sales tax on all the goods they buy, + road tolls and other fee's. For example in New York, we have an 8.5% income tax rate, 8.875% sales tax, and 7% payroll tax. So even if I paid NO state and fed taxes, I STILL have paid 16% of my entire income in taxes which is more than Mitt Romney paid....Mitt Romney may make 10,000x as much money as me, but that doesn't mean he buys 10,000x more paper towels than me to be taxed on and it means he stops paying payroll tax after $10,000.  A New York family making $75,000 with no mortgage will pay:

15% fed inc
8.8% state inc
8.9% sales tax on say $38,000 worth of goods = 4.5%
6% payroll taxes
----------------
TOTAL: 39% of all income paid in taxes even though his fed tax rate is only 15%.  Why is this fair?

O.k, genius. Tell me why obama hasn't released any of his records then? Could it mean that they will damage him? Of course it does. And he knows it...

When I see obama's records, I will worry about Romney's tax return. - And seeing that McCain has stated that he saw 20 years of Romney's taxes, and said that there is nothing in them that will hurt him. I will believe him over you, or any other liberal for that matter...

[docstew]

O.k, genius. Tell me why obama hasn't released any of his records then? Could it mean that they will damage him? Of course it does. And he knows it...

When I see obama's records, I will worry about Romney's tax return. - And seeing that McCain has stated that he saw 20 years of Romney's taxes, and said that there is nothing in them that will hurt him. I will believe him over you, or any other liberal for that matter...[/b]

Which is why I say the Romney camp should release them around, oh, September, then start hammering O on his failure to release anything. Romney should also release a full physical, college transcripts, full resume with all leadership and exec positions listed, affadavits of divestment (not just a blind trust, divestment) in anything except gold or govt bonds, etc.

[Kyle Ricky]

Which is why I say the Romney camp should release them around, oh, September, then start hammering O on his failure to release anything. Romney should also release a full physical, college transcripts, full resume with all leadership and exec positions listed, affadavits of divestment (not just a blind trust, divestment) in anything except gold or govt bonds, etc.

Man, if he did that then hammered obama for not doing the same. God, that would be a beautiful play.

[rich_t]

Man, if he did that then hammered obama for not doing the same. God, that would be a beautiful play.

Could happen.

[Kyle Ricky]

Could happen.

I am telling that if he would do that, I would, under this one and only instance, do a Matthews and feel a tingle going up my leg. Wow. I can picture what would happen, and what obama's reaction would be. 

[rich_t]

I am telling that if he would do that, I would, under this one and only instance, do a Matthews and feel a tingle going up my leg. Wow. I can picture what would happen, and what obama's reaction would be. 

I don't want to hear about your tingles.

i don't need visual image.

 

[Kyle Ricky]

I don't want to hear about your tingles.

i don't need visual image.

 

  Sorry 

[Bad Dog]

The chart about effective tax rates is incorrect. The chart I provided is from the Tax Policy Center which is non-partisan.

Lets be honest, it doesn't take a genius to figure out that human nature is to do the thing that causes the least pain.  Clearly Mitt Romney was hammered for two weeks about his tax returns, and there is no question that it will and has affected him in the polls. Obviously the Romney people have calculated that if he releases the returns, it will be MORE damaging than the heat he will got by not releasing them.  Plain and simple. Risk vs Reward.  Any pundit or analyst with half a brain will tell you this.

As far as tax rates go, have you all forgotten that just because someone files his return and paid $0 in federal tax, that doesn't mean he didnt pay 5-8% in payroll tax out of their paycheck, + state sales tax on all the goods they buy, + road tolls and other fee's. For example in New York, we have an 8.5% income tax rate, 8.875% sales tax, and 7% payroll tax. So even if I paid NO state and fed taxes, I STILL have paid 16% of my entire income in taxes which is more than Mitt Romney paid....Mitt Romney may make 10,000x as much money as me, but that doesn't mean he buys 10,000x more paper towels than me to be taxed on and it means he stops paying payroll tax after $10,000.  A New York family making $75,000 with no mortgage will pay:

15% fed inc
8.8% state inc
8.9% sales tax on say $38,000 worth of goods = 4.5%
6% payroll taxes
----------------
TOTAL: 39% of all income paid in taxes even though his fed tax rate is only 15%.  Why is this fair?

MexMex, I'll tell you what I haven't forgotten is that untill a short time ago Social Security was called SSI.  Which stands for Social Security Insurance.  In fact when it was first passed into law it was called "Old Age Insurance". Liberals changed it to "payroll tax" to convince deadbeats, idiots & parasites that they were paying taxes too.

[obumazombie]

TexMex, at what point did you discover life isn't fair ? Or have you yet ?