Nel's New Day

August 17, 2012

Does Romney Lie about His Tax Returns?

Filed under: Uncategorized — trp2011 @ 6:47 PM
Tags: , , , ,

“Every year, I’ve paid at least 13 percent,” Mitt Romney said reluctantly yesterday after being pressed about his tax rate. At the same time, he won’t release his tax returns.

The interesting part about what he said is what he didn’t say. Nowhere did he use the word “federal” or “income tax.” Journalists asked for his tax rate, and he gave them a number. He also says, “I pay a lot of taxes” and “I pay all the taxes that the law requires.” People pay lots of taxes other than federal income taxes: sales tax, property tax, vehicle tax, capital gains tax, state income tax, etc. Were all these lumped into the 13 percent figure that he gave? Almost every news story about the 13 percent uses the word “federal”; Romney must be very pleased.

Even if the 13 percent is for federal taxes, there are many questions that won’t be answered without a look at the tax returns. How did he get over $1 million in his IRA? What deductions did he take? What offshore tax strategies does he use? Did he disclose his Swiss bank account during all these years? Was he one of the people who took advantage of the IRS’s amnesty for undeclared offshore financial accounts? Why did he use a “tax shelter” in his Houston real estate investment?

Romney calls the concern about his tax returns “small-minded.” He may feel that’s true because  he has what most of the people in the country would consider unlimited funds. It brings up the question—again—of what “ammunition” (to use Ann Romney’s word) would people find in his tax return.

What many people realize is that Romney cannot be trusted to tell the truth. He has consistently lied throughout this entire campaign every time he changes his position to get more voters. He also consistently lies about President Obama’s record, most recently the accusation that the president lied about the U.S. having more coal jobs now than when George W. Bush was president. Romney called on the president to tell the truth; we should call on Romney to do the same thing.

In 2008, Bush’s last year in office, there were 12,445-14,428 underground coal jobs and between 5316-6312 surface jobs throughout the year. The number rose slightly each year until the year 2011 showed 16,290 underground coal jobs and 6046 surface jobs throughout the year. This definitely shows an increase. Romney lies.

The Medicare debate since Romney selected Ryan as his running mate has brought out a number of Romney’s lies. Romney’s health plan eliminates all new benefits for seniors under the Affordable Care Act, bringing negative changes for “current seniors and those 55 and older,” in opposition to what Romney claimed. His claim that his plan will keep Medicare solvent is a bold-faced lie as is his claim that the president’s plan will cause Medicare to go bankrupt. The purpose of President Obama’s Medicare plan is to save money through greater efficiency, something that conservatives used to try to do. Another Romney Medicare lie is that it is a bipartisan effort with Sen. Ron Wyden (D-OR). Wyden has pointed out himself that this is a blatant lie.

Romney has consistently claimed that President Obama promised “he’d get the unemployment down to under 5.6 percent today if we pass that $1 trillion stimulus package.” First, the stimulus was $200 billion less than Romney’s claim, and second the president never claimed that.

Another false Romney claim is that he won’t raise taxes on small businesses the way that President Obama has done. Once again, Romney should do some fact checking: the president has repeatedly cut taxes for small businesses—some say 18 times—and his tax plan has no effect on 97 percent of small businesses, just those that net over $250,000.

If, by some miracle, Romney is telling the truth, there’s still a huge problem. Why should someone who has over $250 million and earns over $20 million pay 13 percent federal taxes when people who make far, far less pay a much higher percentage? And why should anyone elect someone who would then be able to pay less than 1 percent in federal taxes if he and his party control the country? Ask conservatives that!

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