If Mitt Romney Is “Happy” To Provide More Information About His Tax Returns, He Should Release Them For the American People To See
Yesterday Mitt Romney said he would be “happy to go back and look” at his old tax returns to see if he ever paid a tax rate lower than the 13.9 percent he paid in 2010 – which is a lower rate than many middle-class families pay. If he’s “happy” to provide more information about his tax returns, he should come clean and release more of them.
- Please see this ABC News article, "Romney not sure if he’s paid less than 13.9% in taxes.”
Even Republicans want Romney to come clean and release more tax returns because Romney has left too much unexplained about his private-sector record, which he’s made the cornerstone of his campaign. Maybe they’re wondering what John McCain saw in 23 years of Romney’s tax returns that made him decide to pick Sarah Palin instead.
Romney believes in a tax system with two sets of rules – one for himself and others at the top, and another for everyone else.
- He supports an unfair tax system that lets many of the wealthiest taxpayers take advantage of special breaks and loopholes to pay a lower tax rate than many middle-class families. That’s how he’s able to pay only 13.9 percent.
- He may have taken advantage of foreign tax havens to avoid paying his fair share. Until he releases more tax returns, we’ll never know if that’s why he had a $3 million Swiss bank account, a shell corporation in Bermuda or a stake in at least a dozen funds in the Cayman Islands.
Romney’s values have shaped the policies he’d pursue if elected President. While the President’s tax reforms ask the wealthiest to pay their fair share and reward companies that bring jobs back to America, Romney’s plans would do the opposite.
- Romney opposes the President’s plan that would extend middle-class tax cuts for 98 percent of Americans and ask the wealthiest to pay their fair share again.
- Romney would raise taxes on at least 18 million hardworking Americans while giving millionaires like himself a budget-busting 25 percent tax cut – which would force either higher deficits or even higher taxes on the middle class.
- According to an independent economist, Romney’s corporate tax plan would create 800,000 jobs overseas by eliminating taxes on companies' foreign incomes. Those jobs could come at the expense of American workers.