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In all the complicated theorizing going on about the potential landmines that could possibly litter Mittens's tax returns from years gone by, I have not seem anyone posit what might be two completely simple, yet potential campaign-destroying reasons why we are never going to see his financial disclosures from the past 12 years - and most especially, from the period from 2008 - 2010.

My theory after the orange California freeway interchange.......

Here - in a nutshell, is my theory on the reason we are never going to see Mittens' financial information - especially that from 2008 - 2010:

THEORY: Mitt's income was substantially LOWER beginning in 2008 but was geometrically HIGHER beginning in 2009 and steadily rising every year subsequent - thereby completely undercutting the argument that "We are worse off than we were 4 years ago."

Such an admission would permit production of possibly the most devastating campaign ad of all time, with Obama being able to detail the growth in Mitt's income (and his paying, somehow, lower taxes than everyone else) with the tag line: Who's better off today than they were 4 years ago? MITT ROMNEY!

Just a simple thought in a sea of convuluted theories with little or no evidence. :D
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Comment Preferences

  •  Tip Jar (13+ / 0-)

    Sadly, everything Communism said about itself was a lie. Even more sadly,, everything Communism said about Capitalism was the truth.

    by GayIthacan on Sun Sep 23, 2012 at 06:12:58 AM PDT

  •  You have a good point here. (4+ / 0-)
    Recommended by:
    bluedust, JKTownsend, phonegery, Orinoco

    I also think that he is so ingrained to be secretive from his church. I watched "The Mormon Candidate" on Current TV last night and it is eye opening to say the least. Scary to think he could be president. Definitely his father is his motivation for running.

    •  I don't think it's his church so much (1+ / 0-)
      Recommended by:
      LucyTooners

      as the Masters of the Universe crowd he played in for so many years. It seems to be a point of pride with them to hide income from taxation and brag to each other about how low a rate they pay.

      Releasing his returns would show his rivals how he dun it, and would probably expose the illegal tax shelters for which he got amnesty in 2009, when he probably came in from the cold when the IRS offered to waive penalties if tax avoiders came clean.

      Accumulation of money is a game to these people. We should take it away from them and put it back into circulation. Eisenhower tax rates might be a nice change of pace for the country.

      "The problems of incompetent, corrupt, corporatist government are incompetence, corruption and corporatism, not government." Jerome a Paris

      by Orinoco on Sun Sep 23, 2012 at 09:35:35 AM PDT

      [ Parent ]

  •  He cheated. (6+ / 0-)

    He avoided paying the full amount of his taxes by using offshore accounts.  The type most people don't have the privilege of using.    Mitt Romney lies.  Mitt Romney has cheated the United States out of Income Tax .  This is why he CAN'T release his returns.

    " With religion you can't get just a little pregnant"

    by EarTo44 on Sun Sep 23, 2012 at 06:23:47 AM PDT

    •  asdf (1+ / 0-)
      Recommended by:
      JKTownsend

      But we already KNOW he did not pay the full amount after the release of his 2010 and 2011 returns - so that really cannot be the reason here.

      Sadly, everything Communism said about itself was a lie. Even more sadly,, everything Communism said about Capitalism was the truth.

      by GayIthacan on Sun Sep 23, 2012 at 06:28:31 AM PDT

      [ Parent ]

      •  GayI - in 2011 he overpaid (2+ / 0-)
        Recommended by:
        Clem Yeobright, johnny wurster

        How do you get to a statement that he underpaid in 2010 & 2011.

        "let's talk about that"

        by VClib on Sun Sep 23, 2012 at 07:30:45 AM PDT

        [ Parent ]

        •  Well, at least he lent the IRS some money ... (1+ / 0-)
          Recommended by:
          VClib

          I don't think there is anyone in America who will criticize him when he amends his return to pick up the $200k he left on the table (or in the safe) sometime in mid-November.

          Mitt was right that Americans feel no one should overpay, but he was wrong that postponing a refund is the same as forgoing it or that people can be made to think it is.

          Am I right, or am I right? - The Singing Detective

          by Clem Yeobright on Sun Sep 23, 2012 at 07:42:36 AM PDT

          [ Parent ]

    •  EarTo44 - how did he do that? (3+ / 0-)

      If you are a US taxpayer the tax laws apply in exactly the same way on income earned anywhere in the world, regardless of where your financial assets are domiciled.

      "let's talk about that"

      by VClib on Sun Sep 23, 2012 at 07:35:48 AM PDT

      [ Parent ]

      •  Tax laws only apply to income (0+ / 0-)

        that people report, or that the IRS can find out about through investigation. The reason 'Swiss Bank Accounts' have such a reputation as hidey holes for tax avoiders is that, in years past, the Swiss banks would not tell anyone who held the accounts.

        In 2009, the IRS held an amnesty program: anyone hiding money in offshore accounts could amend returns, declare the income, pay the tax and interest, but avoid penalties and criminal prosecution.

        It is widely suspected that Mitt Romney had money hidden in such a way, and took advantage of the 2009 amnesty program.

        "The problems of incompetent, corrupt, corporatist government are incompetence, corruption and corporatism, not government." Jerome a Paris

        by Orinoco on Sun Sep 23, 2012 at 09:42:50 AM PDT

        [ Parent ]

        •  Orinoco - we have no proof that Romney (2+ / 0-)
          Recommended by:
          Orinoco, nextstep

          Ever had undisclosed foreign accounts or took part in the 2009 amnesty program. I think your last paragraph would be more accurate to say that "It is widely speculated .....". Personally I don't think he was part of the program because PWC has been his tax adviser for a long time and would not keep him as a client if he had undisclosed foreign accounts.

          "let's talk about that"

          by VClib on Sun Sep 23, 2012 at 11:20:25 AM PDT

          [ Parent ]

          •  suspected... speculated... (0+ / 0-)

            you say potaytoe and I say potahtow.

            Romney may have perfectly innocent and pure reasons for not disclosing his tax returns as presidential aspirants generally do.

            Granted, he is not a very good manager, and isn't the sharpest rock in the box, but he seems to be willing to lose the election, turn the House over to Democrats, leave the Senate in Democratic hands, allow the next two or three Supreme Court justices to be appointed by progressives (or at least moderates) and pretty much destroy the prospects of the Republican Party for a decade or two or more...

            just to avoid disclosing those tax forms.

            I can't help but think there is more to it than just bad optics.

            "The problems of incompetent, corrupt, corporatist government are incompetence, corruption and corporatism, not government." Jerome a Paris

            by Orinoco on Sun Sep 23, 2012 at 01:06:05 PM PDT

            [ Parent ]

            •  Orinoco nailed it. (1+ / 0-)
              Recommended by:
              Orinoco

              Good show.
              Of course Mitt Romney is lying, and cheating on his taxes.
              Mitt Romney is guilty of cheating the country out of what should be a contribution to our national debt.  
              There is no valid explanation for Mitt Romney to literately
              forfeit his chances of winning this election.

              Something must be very, very wrong with his returns, for him to take this path.

              There just isn't.

              Orinono nailed it.  

              " With religion you can't get just a little pregnant"

              by EarTo44 on Wed Sep 26, 2012 at 01:26:28 PM PDT

              [ Parent ]

  •  Well the 1%, Even the Top 10%, are Ahead of 2008 (1+ / 0-)
    Recommended by:
    JKTownsend

    today according to a report I saw in the last week or so. So your proposal is practically a given. I think though in addition, the 2009 amnesty is probably the deal breaker.

    I think there's also the probability that he's not 1% but 0.1% or 0.01%, which would likely come to light with very many returns revealed.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Sun Sep 23, 2012 at 06:26:45 AM PDT

  •  hard to say (2+ / 0-)
    Recommended by:
    JKTownsend, LakeSuperior

    In 2010 Romney made 20 million in 2011 only 13 million so it could be said he did worse in 2011. Without seeing his taxes from the Bush years we will never know.
    Very possible he did great under Obama. May be a good thing for Obama to bring up in a debate.

  •  Willard's putting on a magic show-- (3+ / 0-)
    Recommended by:
    JKTownsend, phonegery, Orinoco

    now you see it; now you don't.

    The whole point is to keep attention focused on himself, the Vicar of Wall Street and his Vice.

    Why? 'Cause he's a grand-stander and doesn't mind losing, as long as he can do it spectacularly.  He's got nothing invested in this endeavor.  If nothing else, he'll have lived for a year at the donors' expense.

    One of the reasons the rich get rich is because they don't pay. They sponge off each other and stiff the little people.

    Ah, now, there's a new metaphor: Willard the Sponge.

    We organize governments to provide benefits and prevent abuse.

    by hannah on Sun Sep 23, 2012 at 06:39:54 AM PDT

    •  I have wondered if at this point (0+ / 0-)

      he isn't just going thru the motions while raking in as much money as he can, and planning on keeping the balance.  The comments a day or so ago that suggested that his campaign had only $20 million in funds, the rest of the treasure chest reserved for the RNC to spend.  

      Democrats - We represent America!

      by phonegery on Sun Sep 23, 2012 at 08:10:08 AM PDT

      [ Parent ]

  •  Maybe... (2+ / 0-)
    Recommended by:
    JKTownsend, phonegery

    he was on the "winning" side of some of those high-risk bets made by, say, AIG.   Which would mean that the American taxpayers bailed out Mitt rMoney.  

    The best is the enemy of the good. --Voltaire

    by pateTX on Sun Sep 23, 2012 at 06:40:48 AM PDT

  •  I bet that he lost a bunch of money (1+ / 0-)
    Recommended by:
    phonegery

    especially around 2008 in the last gasp of the Bush economy.  The only thing worse than being caught cheating on your taxes for an operator like Mitt is to admit that you can't manage your own money. That would be the ultimate embarrassment.  His business acumen is what he's running on.

    The sleep of reason brings forth monsters. --Goya

    by MadScientist on Sun Sep 23, 2012 at 07:07:09 AM PDT

    •  MadScientist - Romney doesn't manage his (2+ / 0-)
      Recommended by:
      Clem Yeobright, johnny wurster

      own money. People who have the kind of wealth that Romney has have professional managers who invest their money. In major market downturns they are going to have losses, it's not a big deal. Everyone who understands anything about financial markets would expect to see big losses in 2008 and there wouldn't be anything embarrassing about it.

      "let's talk about that"

      by VClib on Sun Sep 23, 2012 at 07:33:55 AM PDT

      [ Parent ]

  •  All of the above seem possible, (1+ / 0-)
    Recommended by:
    phonegery

    And I'd add a few more plausible theories:

    1. Possible reception of tax amnesty in 2009 for non-reporting of foreign income.
    2. A discrepancy between his residence for tax purposes and his residency for voting---felonious conduct which would disqualify him from office.
    3. Possible under tithing to the Mormon church.
    4. The nature of many of the investments.  We know about Chinese prison factories and an abortion disposal company.  What else would lurk there?

    My hunch is that, due to a combination of factors, the release of returns would be lethal to him

  •  Every wealthy person with a little powder (0+ / 0-)

    after the crash made huge money.  I am sure Romney was on the inside track along with many of his cronies.

    I fall down, I get up, I keep dancing.

    by DamselleFly on Sun Sep 23, 2012 at 07:18:04 AM PDT

  •  It just makes no sense why he ever (1+ / 0-)
    Recommended by:
    phonegery

    ran for President at all.

    He has eyes and ears. He knows what Obama has been subjected to. Did he really think he wouldn't have to deal with all that, too? Was he really that clueless about what a campaign is all about? And the campaign is the easy part. Being President is a  hundred times harder.

    Basically, if you don't want the job - the WHOLE job - don't set up the interview.

    He's going to spend the rest of his life in humiliating seclusion. And I wouldn't be surprised if he didn't end up divorced, too.

    I am progressive. I am liberal. I make no apologies. - Kos

    My political compass: - 8.38,-6.97

    by pucklady on Sun Sep 23, 2012 at 07:44:25 AM PDT

  •  On September 8 when (0+ / 0-)

    the Republicans were desperately trying to raise the "are you better off" question in the wake of the fantastically successful Democratic convention I tweeted this:

    I know why Mitt won't release his tax returns. Stock mkt doubled since '09 - returns will show he is doing much MUCH better than 4 yrs ago

    Still enjoying my stimulus package.

    by Kevvboy on Sun Sep 23, 2012 at 08:18:45 AM PDT

  •  My theory is he reported income from blackmail. (0+ / 0-)

    There's a space for it on tax forms, you know.  :)

  •  It's possible (1+ / 0-)
    Recommended by:
    blue91

    but much more likely he's not releasing his forms for the reasons that Ann said: You peons don't need to know.

    There are probably embarrassing things in there although I strongly doubt anything criminal. But mostly, it's just his way of showing the American people  how much contempt he has for them.

    "Because Romney's a clown . . ."--Henry Francis

    by LeftCoastTimm on Sun Sep 23, 2012 at 10:32:01 AM PDT

  •  If he is betting against the dollar (0+ / 0-)

    and apparently he and other RepoNazi are, then he has made money, and made it in a very traitorous manner, as part of the problem of the falling dollar is that men like Mitt don't pay their fair share of taxes and overtly say they want to destroy our dollar based economy.

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