Skip to main content

Via email, a statement from Obama for America:

STATEMENT: Romney Pays Lower Rate than Middle Class, Hides Wealth and Income

Chicago, IL—Obama for America released the following statement from Deputy Campaign Manager Stephanie Cutter on Mitt Romney’s 2011 tax returns:

“Today’s release of Mitt Romney’s 2011 tax returns confirms what we already knew – that people like Mitt Romney pay a lower tax rate than many middle class families because of a set of complex loopholes and tax shelters only available to those at the top. Yet, Mitt Romney still wants to give multi-millionaires an additional $250,000 tax cut at the expense of middle class taxpayers who will see their taxes go up.   While the tax return for the one year released today continues to mask Romney’s true wealth and income from Bain Capital, leaving the American people in the dark about critical details about his finances,  it does confirm that he continues to profit from millions of dollars invested overseas. These types of investments, the use of tax loopholes, and the resort to foreign blocker corporations enabling him to reduce his U.S. tax obligations, all raise basic and still unanswered question – why does Mitt Romney not just release the full returns , instead of the bare summary he has provided of the last 20 years, so voters can make their own judgments about Mitt Romney’s finances?   As Mitt Romney’s father said, candidates should release several years of returns, because one year could be a fluke.   President Obama, Vice President Biden and nearly every other candidate in recent memory has met that test, but Mitt Romney continues to fail it.”

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  Here's the money quote (no pun intended): (5+ / 0-)
    These types of investments, the use of tax loopholes, and the resort to foreign blocker corporations enabling him to reduce his U.S. tax obligations, all raise basic and still unanswered question – why does Mitt Romney not just release the full returns , instead of the bare summary he has provided of the last 20 years, so voters can make their own judgments about Mitt Romney’s finances?  
       What is Mr. Romney (still) hiding?

    "We the People of the United States...." -U.S. Constitution

    by elwior on Fri Sep 21, 2012 at 03:59:09 PM PDT

  •  Even USA TODAY not buying Romney Spin (5+ / 0-)
    Recommended by:
    elwior, phonegery, Hey338Too, Chi, Larsstephens

    Gotta LOVE this headline from USA TODAY...
    Romney releases taxes, claims he has paid every year

    Notice that they point out Romney "claims" he paid every year.  

    They are NOT buying the spin without the TAX RETURNS.

    Then they state (bolding mine):

    Mitt Romney released new tax documents Friday showing he and wife Ann paid more than $1.9 million in federal income taxes or 14.1% of their income in 2011 and claiming their tax rate the past 20 years has never been lower than 13.66%.

    "When I use a word," Humpty Dumpty (Mittens, Paul Ryan, Scotty Walker, Limbaugh, pick your favorite) said in rather a scornful tone, "it means just what I choose it to mean -- neither more nor less."

    by Eman on Fri Sep 21, 2012 at 04:10:04 PM PDT

  •  The 2009 return is what's crucial - look for fraud (2+ / 0-)
    Recommended by:
    BendixG15, Larsstephens

    Mitt is stuck:  There's almost certainly something in his 2009 return that is lethal to his candidacy:

    First, he may have claimed New Hampshire residency for that year.  But he voted in Mass for Scott Brown in the US Senate special election in January 2009.  That would be criminal voter fraud if he claimed NH residence for that year.  He would also be liable for income tax evasion as to Mass income tax.

    Second, it's possible that, in his 2009 return, he took advantage of an IRS amnesty for rich tax cheats who had failed to report foreign income that was hiding in secret bank accounts like the ones that Romney has had over the years.

    Either of these would be terminal to his candidacy, I'd think.  So, emphasize FRAUD and CHEATING when arguing for more returns.

    Romney has now released parts of his returns for 2010 and 2011.  He would probably not have a huge problem with his earlier returns, but obviously he can't release, say, 2000 to 2008 and skip over 2009.  It would stick out like a sore thumb.  That's why we need to keep hammering on 2009.

    "Do you know Republicans are stupid AND evil?" - Bill O'Reilly, Feb. 2010

    by Alanhawaii on Fri Sep 21, 2012 at 06:10:04 PM PDT

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site