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What's Romney Hiding in His Tax Returns?

I really liked the: Romney is a true American statement from some tarded leaker 30 mins ago somewhere.. source: http://www.businessweek.com/articles/2012-07-17/whats-romney-hiding-in-his-tax-returns




As George Will and many others have noted, there must be something truly damaging in Romney’s pre-2010 tax returns for him to willingly endure the criticism and scrutiny that has accompanied his refusal to release them—a refusal he reiterated on Friday, even as the issue, and the matter of his departure date from Bain Capital, has engulfed the campaign. “The cost of not releasing the returns are clear,” Will said on ABC’s This Week on Sunday. “Therefore, he must have calculated that there are higher costs in releasing them.”

So what could it be that Romney is so determined not to disclose?

Last night I had dinner with some (non-Bain) private equity executives, and I took the opportunity to quiz them on the topic and test my own theories about Romney’s tax returns. Let me emphasize that I have no idea what is in those returns, and neither did anyone I spoke with. What follows is unfounded, though not implausible, speculation. The most intriguing scenario that emerged about what could be lurking in those returns is as follows:

When the stock market collapsed in 2008, the wealthiest investors fared worse than everyone else. (See, for instance, this Merrill Lynch study.) The “ultra-rich”—those with fortunes of more than $30 million—fared worst of all, losing on average about 25 percent of their net worth. “There was really nowhere to hide as an investor in 2008,” Merrill Lynch’s president of global wealth management pointed out in 2009. “No region ended the year unscathed.”

As a member of the ultra-rich, Romney probably wasn’t spared major losses. And it’s possible he suffered a large enough capital loss that, carried forward and coupled with his various offshore tax havens, he wound up paying no U.S. federal taxes at all in 2009. If true, this would be politically deadly for him. Even assuming that his return was thoroughly clean and legal—a safe assumption, it seems to me—the fallout would dwarf the controversy that attended the news that Romney had paid a tax rate of just 14 percent in 2010 and that estimated he’d pay a similar rate in 2011.

The “zero tax in 2009” theory—again, this is sheer speculation—gains further sustenance when you consider it’s the only year for which nobody knows anything about Romney’s taxes. He’s revealed what’s in his 2010 and 2011 returns, and he reportedly submitted 20-some years’ worth of returns to the McCain campaign when he was being vetted for vice president in 2008. Steve Schmidt, McCain’s chief strategist in that campaign, said on MSNBC last night that while he didn’t examine Romney’s returns himself, nothing that McCain’s vetters found in them disqualified Romney from consideration.

That would indicate that 2009 is singularly important and, if there’s anything to this theory, incredibly vexing for Romney because there’s no way he could release additional returns without including that year. And the chaos that would ensue would be bad enough that it’s probably worth enduring significant damage to avoid.


Added: Jul-18-2012 Occurred On: Jul-18-2012
By: Nazel_Hut
In:
Politics
Tags: lolmney, 1%
Views: 3002 | Comments: 193 | Votes: 3 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • if he wants to keep his money on the moon,.he's allowed,.anyone can keep thier money anywhere,.it's called FREEDOM,.we all have it,.you just have to know how to use it,.

    Posted Jul-18-2012 By 

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  • If there was something wrong with his taxes, we would know about it by now.
    It’s not like the IRS loves to protect rich guys.
    That said, what is President Obama hiding in his College Transcripts?

    Posted Jul-18-2012 By 

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    • @wharris
      Bingo. I think the main thing hiding in Romney's returns is the ability to hit the big O over the head with his own hidden documents.

      The question being kicked around is why would Romney endure the criticism? One theory would be that there's nothing wrong (not that the libs won't spin it) with the returns. But, the ability to highlight the big O's own duplicity and shady past might be a crushing advantage a bit later in the campaign.

      Posted Jul-18-2012 By 

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  • Lol, Romney's life is like open book compared to the shady past of O'bullshitter. This election is going to be a referendom on barry. The left can not hide his deeds in office like they did his past!!!

    Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
    • @Nazel_Hut Oh hazel, you nut.

      Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
    • @Nazel_Hut I see changing your channel name hasnt fixed your personality .

      Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
  • ho cares what HE does with HIS money? I'm more concerned with what Obama is doing wasting MY money.

    Posted Jul-18-2012 By 

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  • it's nobodies business,..fuck off! this is America,.go make your own success ya lazy bums! ;)

    Posted Jul-18-2012 By 

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  • They're all corrupt fucks that are funded by shady people with shady ties... plus, in the country where rich people can fund anyone as much as they like... don't tell me this is democracy. It's just the rich leading the poor.

    Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
    • @Nazel_Hut see OB talking about "politics" drives decisions instead of good problem solving.

      replace politics with "bribes"

      Posted Jul-18-2012 By 

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    • @heydoin

      Da Chicago way!

      Posted Jul-18-2012 By 

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    • @lethe

      Agreed, but until another system is discovered, the free market capitalistic approach with a representative government has increased more people's standard of living then any discovered so far. Freedom and Liberty to the individual is the key. You "vote" with your money and it worked well until "fairness" (which actually turns into favoritism) was introduced and a shear lack of accountability. It's not perfect, but it worked for America.

      Even if you redistributed a More..

      Posted Jul-18-2012 By 

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  • I don't care what Romney does with his money but I do care what obama is doing with my money.

    Posted Jul-18-2012 By 

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  • Who gives a fuck how much money he made and how much in taxes he paid? Listen you liberal hemorrhoid, who pays more: the average Joe who makes 60k a year at a 30% tax rate or Mitt who has 200 million at a 15% tax rate???

    Posted Jul-18-2012 By 

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    • @Phantom Fury

      The guy making 60k pays twice as much of his earnings as Romney does.... that's the only thing that matters.

      Posted Jul-18-2012 By 

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    • @Phantom Fury

      LOL...High math for the liberal's that believe any of this BS!

      The progressive's biatching about a progressive tax structure. They are insane and unfortunatly ignorant, but they vote.

      Posted Jul-18-2012 By 

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    • @EventHorizon2012

      What is a fair percent then? We already have a progressive tax structure. What percent is fair? True fairness would be everyone paying their "fair share" right? Many pay NO taxes and sip off the system.

      Do you want to punish success?

      I do agree that many of the "loophole's" must be closed!

      Posted Jul-18-2012 By 

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    • @EventHorizon2012

      A worse case scenario of making $60,000 is a single, no dependent, all wage income situation. In that case his SS & Medicare withheld would be $3,390 and income tax would be $8,756 for a total of $12,146, or 20.24% of his $60,000 take.

      Willard's total federal taxes were $3,226,623, or 15.43% of his income. Not even close to "twice as much".

      What about just income tax? 60k guy is 14.59% and Willard is 15.37%.

      But what if the income make up is the same? If the More..

      Posted Jul-18-2012 By 

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  • that hes mexican

    Posted Jul-18-2012 By 

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  • Comment of user 'uschairforcesgt' has been deleted by author (after account deletion)!
  • I will be forced to vote for Mitt Romney for lack of a better candidate. Let's face it, Rufus from "Bumfights" would make a better commander in chief than Obama.
    http://www.bumfightsdump.com/bum-fights/120/clips-from-bumfights.html

    Posted Jul-18-2012 By 

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  • He is only required by law to show two years of tax returns.
    He has done that.
    End of line.

    Posted Jul-18-2012 By 

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  • What's Obama hiding in his school records? His birth certificate? His income tax records?
    Romney releases one thing, and lefties will demand more and more. This is an old con, and Romney's not falling for it.

    Posted Jul-18-2012 By 

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    • @govett Romney released 23 years to McCain, his father started the tradition by releasing 10 yrs. Every presidential candidate since has released at least 5 yrs. He's hiding something, and being stupid by not releasing more. Hopefully this will be the final nail in the Romney for President coffin.

      Posted Jul-18-2012 By 

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    • @cdlcrash dude, wake up, millions of 2008 Obama voters are not going back in 2012, they hate the man.

      nail in Romney's coffin, wtf are you talking about, it's not a vote for Romney in 2012, it's a vote against the Socialist Obama.

      your avatar sucks too, Compton, CA is going bankrupt, Jeremy Lin will save 3million on taxes by playing for the Houston Rockets located in Texas the most vibrant economy in the country, CT, RI, MA worst places to retire, highest tax burdens, Detroit about to be razed More..

      Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
  • He's not hiding his tax returns any more than Obama never showing his birth certificate before running for president. Anyway, Obama is hiding so much shit...fucked up Harvard Law reviews, Rezco shit, just to name a few...but who the fuck knows what else he is hiding. I think we would all instantly die if it was all let out at once. So STFU!!!!

    Posted Jul-19-2012 By 

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  • The guy is not a muli millionaire, he is a billionaire and does not want people to know it, in addition to not paying his taxes. Send him to jail. Not reporting more than 10,000 dollars in overseas or offshore accounts is a crime for the rest of us and should apply to him too.

    Posted Jul-18-2012 By 

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  • Release Obama's transcripts you fucking babies. Typicaly underwear shitting Liberals crying about a tax return, but not one single voter has seen a single scrap of paper of our own president's college records.

    Fuck off, libs. Romney isn't showing shit, which makes him Obama's equal. Cry on.

    Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
    • @yorba Romney doesn't have to show anything at this point.We learned all we need to know about this fraud from the McCain report.Better luck in 2016.

      Posted Jul-18-2012 By 

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  • Just another diversion from the Obamanation in the white house. If Obama would produce his birth certificate, his college transcripts, his college thesis, his college papers, then Romney can produce his tax returns.

    Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
    • @Diverdanm Actually what you have written is a diversion.Why bother to comment if you can't stick to the topic of the post.If you want to redirect and talk about something else,create your own post.

      Posted Jul-18-2012 By 

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    • @Diverdanm Keep telling yourself that. This one is gonna sink him. BTW Obama did release his B.C. You're not one of those dopes that think it's fake are you?

      Posted Jul-18-2012 By 

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  • nothing too see here.

    Posted Jul-18-2012 By 

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  • "As a member of the ultra-rich"

    Really that's it , a man's wealth is now you liberetards ammo.

    IDIOTS

    Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
    • @Nazel_Hut they wouldn't be "fun" to you if you had them all around you in your country, Hazel

      they all just name-call and try to bully people. Thugs with no leg to stand on other than hate and bile. Typical right wing fascist behavior perfected in the USA under Bush43

      Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
    • @Nazel_Hut - "he stealls his taxes" OK education time. There is no such thing as stealing “yes not stealls” you own taxes. Not possible , you can not steal something that is yours in the first place . Now he might cheat on his tax returns , but that is not stealing. Your mother obviously did a very poor job in teaching you stuff.

      Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
  • He's probably hiding the fact that he's loaded, which has become a major crime here in America. Oh, you're wealthy!? You bad man! Redistribute that wealth immediately!

    Posted Jul-18-2012 By 

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  • "What's Romney Hiding in His Tax Returns? "

    Im Barack Obama and I approve this message...

    Posted Jul-18-2012 By 

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  • Brilliant and probably right on point. Though I'm not sure that would ruin him with his Republicorp base. It might sway independents away but highly doubtful.

    Posted Jul-18-2012 By 

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  • If you'll notice the list of presidential tax returns here:
    http://www.taxhistory.org/www/website.nsf/Web/PresidentialTaxReturns/

    You'll notice that Bill Clinton's tax returns listed started with the year he was elected, 1992. That would be equivalent of Willard having 2012 as his first tax return released.

    2009 was a blood bath on tax returns with losses everywhere. If "politically" it would be a problem to show that Willard had losses and little to no tax paid, then politically peo More..

    Posted Jul-18-2012 By 

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  • What ISN'T 0bama hiding?

    Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!
  • he could be hiding a dead 7 year old thai hooker...we wouldnt care, anything is better than the socialist dictator Obama.

    Posted Jul-18-2012 By 

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    • Comment of user 'Nazel_Hut' has been deleted by author (after account deletion)!