New Obama attack: Maybe Romney didn’t pay taxes

[cali]

Posted by Rachel Weiner at 08:05 AM ET, 07/17/2012

President Obama’s campaign is out with a new ad going hard after Mitt Romney to release his past tax returns.

The former Massachusetts governor has released his 2010 tax return and released an estimate of his 2011 taxes, with a pledge to release the full return. But he has resisted giving more information about his past taxes. Obama’s ad seizes on that fact, saying it “makes you wonder if some years he paid any taxes at all. ”

“Tax Havens. Offshore accounts. Carried Interest. Mitt Romney has used every trick in the book,” the narrator says. “Romney admits that over the last two years he’s paid less than 15 percent in taxes on $43 million in income. Makes you wonder if some years he paid any taxes at all. We don’t know because Romney has released just one full year of his tax returns. And won’t release anything before 2010.”

A clip plays of Romney telling an interviewer, “You know what, I’ve put out as much as we’re gonna put out.”

<snip>

http://www.washingtonpost.com/blogs/the-fix/post/new-obama-attack-maybe-romney-didnt-pay-taxes/2012/07/17/gJQAKlEpqW_blog.html

[kestrel91316]

1. I think they have factual information. They wouldn't imply that if they didn't know for sure, IMHO.

[Ruby the Liberal]

2. This one is actually a given.

In 2009, the window to fess up about unreported offshore tax havens closed. You had to report them, and in return, the IRS only charged you a portion of the taxes due and waived the penalty.

His 2008 and 2009 returns would have reported those amnesty accounts. McCain's team wouldn't have seen them, as 2007 would have been the last year available.

Dollars to donuts, Willard participated in this amnesty to come clean about his tax havens, which he would have shielded from the US Government for many years prior = did not pay taxes on until amnesty.

[aint_no_life_nowhere]

4. Sounds like you could really be on to something

That would be as explosive as it gets. It would mean he engaged in potential tax evasion that was excused by the amnesty. People don't like the sound of the word "amnesty" because it implies you've been excused for doing something wrong.

[Ruby the Liberal]

6. I put it into an OP in P-2012 for opinions:

http://www.democraticunderground.com/125157287

I think there is something to this. McCain's team had 2007 and back 23 years, we have 2010 and "estimates" for 2011. What about the 2008 crash and 2009 amnesty, hrm?

[Spazito]

10. Ohhhh, excellent question!

I had forgotten about the amnesty during that period of time.

I think there is something to this as well, it makes eminent sense.

[Xyzse]

8. You're right

I forgot about that amnesty for foreign accounts at the time.

[snooper2]

9. Another thought, what if made a shitload of money off the crash?

[Ruby the Liberal]

11. Exactly.

Why 2008 and 2009, IMO are the critical years to me, anyway. I want to see what happened in 2008 and what "showed up" magically in 2009 that wasn't on 2008.

[Solomon]

13. I don't think they've looked at his returns. That would

be illegal. I have worked in a tax office. If they so much as suspect you're looking at someone's return, you're out the door only as long as it takes to prosecute you and send you to jail.

They don't need to cheat with this fellow. Everytime he opens his mouth he gives them plenty of ammunition.

[Ruby the Liberal]

15. They who?

McCain hired a consulting firm to vet their VP choices. Those folks would have been under iron clad NDA on anything of this nature released to them.

The only distinction I am drawing is that 2007 (going back 23 years), 2010 and estimates for 2011 have been released to outside interests. 2008 and 2009 have not - and those are rather critical years given the crash and the offshore amnesty program.

[Solomon]

16. The they I'm referring to is the Obama administration.

Also, I don't think the McCain camp can release them either. Tax information is one thing that is kept sacrosanct. Believe me. There are IRS employees serving time for peeking. In fact, even when you have a legitimate reason for looking at a return, you will be queried by the all-seeing eye.

[Ruby the Liberal]

17. Gotcha.

I don't think McCain's camp ever had 'access' to them, actually - My guess is that the firm McCain hired for vetting additionally had a firewall from the campaign due to NDA issues - where they could report findings, but not original documents.

[Douglas Carpenter]

3. it may very well be that he stayed technically legal - but in a way that still looks really bad

Outsourcing jobs is not illegal. Even taking advantage of tax laws that subsidized outsourcing jobs may in fact be legal in most cases. Even his overseas accounts may not have constituted tax evasion legally speaking - It is quite possible to manipulate accounts and manipulate the law in a way that minimizes taxes in an unprincipled but not illegal manner. But all of this adds up to a very sleazy picture of behavior the vast majority Americans cannot access and would appear to most people to be utterly unprincipled and somewhat unpatriotic.

[cali]

5. I think that's what's most likely.

in any case, he's desperate to keep those returns from the public eye.

[Ruby the Liberal]

12. No question he kept it "legal".

The question is ethics.

Note how he keeps hammering "what the law required"? Questions about taxes paid, releasing disclosures - every one is answered with him claiming that he did/paid "what was required".

[rustydog]

7. All Rawmoney has to do is release the taxes like his father did and shut up the Obama campaign

But for some nagging reason he won't! Wow, what could it be boys and girls?
He is just standing up for his rights as a private citizen?
He is standing up to that awful bully Obama?

He is deathly afraid of what those filings would reveal>

[Solomon]

14. Trying to paint Obama as the bad guy for asking is just

not working. LOL. Sucks to be Mit right now, even with all his millions.