Mitt Romney On Tax Returns: 'I'm Not A Business'

This tax issue is just not going to go away for Romney. He is running out of ways to defend himself not releasing his tax returns. A reporter recently asked him about it from a different perspective.


www.huffingtonpost.com...

The presumptive Republican presidential candidate was asked the oft-repeated question on his tax returns in a slightly different way: If Romney were to invest in a company that touted its management skills and "fiscal know-how," would he not want to see five years' worth of that company's financials?

That seems like a very logical question. Romney is trying to use his business sense and fiscal skills as a point to why Americans should vote for him. But he seems like he doesn't want to reveal proof of those skills and tactics.

And what's his excuse???

"I'm not a business," Romney answered.

So another stonewall by Romney...he is basically telling the American people to buzz off. He wants us to elect him President because he says he knows how business works. All we are asking him is for him to show us how he conducts his personal business and his personal finances.

And just to make things worse...Romney talks about his "moment of humor" (who talks like that???). So..what was his moment of humor...it was the picture of him and his Bain buddies posing for a picture holding wads of money.

"Oh, that was a moment of humor as we had just done what we thought was impossible. We had raised $37 million from other people and institutions who entrusted us with their funds, and we thought it was a miracle that our group had been able to be so successful in fundraising.

So...why was it a moment of humor??? Shouldn't it be a moment of pride or accomplishment...why did they think it was funny that they got these people to give them 37 million dollars???



His Tax issue isn't going away...I think it may have already lost him the election. It's obvious he has something to hide...even Republcians admit that. And please note, something to hide does not mean something illegal...just something not politically advantageous.

I honestly don't think he will ever release them...he would have done it by now. But the issue won't go away, it will be a main focus during the debates.

For a country full of people who go to H&R Block or other tax filing agencies to "get the most back" on their returns, they're pretty hypocritical to attack one's financial history.

I don't like Romney, but he's allowed the exact same legally accepted methods for filing taxes as any other American.

Non story.

reply to post by DaTroof


I totally agree.

But it's not about whether he's committed Tax fraud.

It's about how much he's Played the system.

reply to post by BritofTexas



I suppose you have a point concerning laws and know-how, but unless something has changed, the President isn't a CEO.

If anything, governing a state is a more accurate litmus test for Presidency. Let's dissect his record as Governor of Massachusetts.

reply to post by DaTroof


People go to H&R block because the thought of the IRS auditing you strikes fear into the heart of every American. It is a safety measure, not because people can't do them.

Wait up just one minute.

I thought companies were people !

If Mitt is not a business is he also not a company ?

Considering this, does this admission impact his eligibility to run for the office or serve as POTUS???

One very good theory why he won't:

A few years back the government offered an amnesty program for people hiding money offshore. The amnesty acceptance would grant them immunity from the felony tax evasion, but would require them to re-file those tax years. With that re-filing is a specific form regarding participation in the amnesty program. I've read some blogs by tax professionals who think this is what is in his taxes that he does not want people to see -- that he committed a felony for which he was granted immunity (like many other ultra rich people).

From Wikipedia:

United States In 2009, a federal U.S. tax amnesty was granted to more than 14,700 American taxpayers.

On June 26, 2012, IRS Commissioner Doug Shulman said the IRS offshore voluntary disclosure programs has so far collected more than $5 billion in back taxes, interest and penalties from 33,000 voluntary disclosures made under the first two programs.

Hiding tons of money offshore is something that only the very wealthy do. Being among the most wealthiest in the country and with a history of complex offshore arrangements, it is not unreasonable to conclude Romney is one of those 33,000 disclosures.

There have long been rumors than Romney's taxes were one of the reasons McCain did not pick him for a running mate. Romney gave the McCain team 10 years of tax filings when he was being vetted as a potential McCain's VP.

Originally posted by DaTroof
For a country full of people who go to H&R Block or other tax filing agencies to "get the most back" on their returns, they're pretty hypocritical to attack one's financial history.

I don't like Romney, but he's allowed the exact same legally accepted methods for filing taxes as any other American.

Non story.

Well if anyone wants to see my tax returns, i have no reason to hide them either.

Oh and I'm not running for president, nor am I able to use loopholes in the tax system afforded only to the super rich.

I am not a great fan of John McCain but, with his age and experience, you have to respect his judgement to some degree.

In the run up to the 2008 election Romney turned over several years of his returns to the McCain campain commity for vetting as vice-president.

After this McCain choose Palin.

Is there anything in this which would give me a "warm-soft-fuzzy feeling" toward Mitt Romney ??

I think not !

Did McCain see something which would make him not chose Mitt ? I don't know !

Originally posted by DaTroof
For a country full of people who go to H&R Block or other tax filing agencies to "get the most back" on their returns, they're pretty hypocritical to attack one's financial history.

I don't like Romney, but he's allowed the exact same legally accepted methods for filing taxes as any other American.

Non story.

If people are worried about getting "the most back"...going to H&R block is a horrible place for them to go. H&R block will make sure you have followed the rules, give you the allowed credits, and give you the ease of mind that a "proffesional" prepared your taxes for you.

If you want to "get the most back"...you hire an actual accountant AND an attorney. You incorporate yourself and use tax shelters and every loophole you can find...here or overseas.

For not liking Romney...you sure are making a lot of excuses for him.

But...if it is such a non-story...why doesn't Romney end it by releasing his taxes???

Originally posted by DaTroof
reply to post by BritofTexas

 

I suppose you have a point concerning laws and know-how, but unless something has changed, the President isn't a CEO.

But that is what Romney is campaigning as....the CEO of America. This is one of his main points...one of the main points his supporters use...he is a successful business man that supposedly knows how to create jobs.

If anything, governing a state is a more accurate litmus test for Presidency. Let's dissect his record as Governor of Massachusetts.

Yes...let's.

Oh wait...Romney does not want to discuss his time as Governor where he passed Universal Health Care, where he was pro-choice, and where he was pro-gun regulation.

reply to post by OutKast Searcher
What do you all hope to discover?

Why is it so important to know how much Romney made or had taken in taxes?

Should we base peoples posts on the money they make here at ATS?

Next to S & F & W & P & K should we also put net worth down as well? Because if you're basing Romneys ability to lead on nothing more than a dollar amount, then is that how you'd judge a thread or thread topic?

reply to post by OutKast Searcher


OS, I love you bro. We agree more than disagree, so think of my criticism in a productive light.

I'm with you 100% concerning Romney, I just don't think the tax issue is one to sway many voters.

The man is running for the most important office in the country and we are suppose to take his word that everything is fine. The one thing most people learn over the years is never trust a politician even if they are in your own party. They all lie.

If a politician is acting like a use car salesman that doesn't want you to see a carfax, then it's very likely something is wrong.

Besides every presidential nominee in recent history has released multiple years worth of tax returns. The country is not asking him to do something unprecedented.

reply to post by Kaploink


But isn't this just feeding the "class warfare" meme that is so pervasive?

I don't know if I'm speaking about a poster, the thread, ATS, the country, or the world.

Are you not tired to death of the topic of Romney's taxes? Surely, we are at the point where the two sides are saying the same things over and over ad absurdum if not ad infinitum.

Where is this getting us? Romney has private papers which he refuses to disclose. His enemies hope to find something to indicate he is "sleazy." Obama has private papers which he refuses to disclose. His enemies hope to find something to indicate he is "ineligible." Both are refusing to disclose, yet the issue is being kept alive for days and weeks at a time. Decide to treat each candidate alike. They both disclose, or they both refuse. That is reasonable, it seems. Now go to something else.

Can we talk about their positions on the debt, the defecit, the budget? How about the use of drones, internment camps, support for rebels, positions on Israel and Palestine. What about internal US liberties, health care immigration and citizenship? How will they deal with Russia, China, North Korea?

Please can't we find some significant national issue?

reply to post by beezzer

Why is it so important to know how much Romney made or had taken in taxes?

I doubt people are concerned at how much money he made, success is still quite popular in the US, the problem stems from how much he was willing to screw the system in tax avoidance, or worse still in tax evasion.

It is not unreasonable to say that if he used every possible loophole to avoid paying tax that was due then he was more interested in serving himself rather than the nation, and if this is so, it may well be an indicator that he would be a self serving president, looking out for his interests and his cronies interest at the expense of the normal average American.

At a time when there is an uproar against the mega rich people and corporations avoiding tax and people wanting to see corporations and the mega rich paying their fair share just as every other American has to do, electing a man as president who has a personal history of tax avoidance (allegedly) will make the situation worse not better.

It is all well and good him saying he knows how business works, we all do, screw the little guy and feed the fat cat. Corporations have become soulless evil life draining machines, and a CEO of would being president will bring the same ethos to government. Although it could be argued government is already completely soulless

reply to post by Kaploink

So Romney supporters can use your statement:

If a politician is acting like a use car salesman that doesn't want you to see a carfax, then it's very likely something is wrong.

to show that there is something wrong with Obama's citizenship and he is not even eligible. Find a new candidate.

Where are we going?

Originally posted by beezzer
reply to post by OutKast Searcher

 

What do you all hope to discover?

Why is it so important to know how much Romney made or had taken in taxes?

Taxes is going to be a big part of the discussion of this election. Romney is of the thinking that we have to give rich people, like him, tax cuts. There is a common belief in America that rich guys like him already pay lower percentage in taxes than most Americans because of sheltering their income.

We already know that Romney pays a lower tax rate than a lot of Americans do, even though he is exremely wealthy. There are accusations that he paid zero taxes for over 10 years, there are accusations he has used overseas accounts to hide his income to avoid paying taxes, there are accusations that he has made questionable deductions or the very least abusive deductions.

Like it or not, the American public wants to see what lengths he went to in order to avoid paying his taxes...taxes that every other average American has to pay or gets thrown in jail.

Call us crazy...but we kind of want to see what kind of person he is.

From a guy that has supported the calls of Birthers for the past 4 years...I find your fake surprise with this issue very very funny.

Should we base peoples posts on the money they make here at ATS?

Next to S & F & W & P & K should we also put net worth down as well? Because if you're basing Romneys ability to lead on nothing more than a dollar amount, then is that how you'd judge a thread or thread topic?

And now you just make something up to try to derail the thread....nice try.

It's not about his income...it's about how hard he has tried to not pay his fair share in taxes when everyone else has had to.

Originally posted by PrinceDreamer
reply to post by beezzer

 

Why is it so important to know how much Romney made or had taken in taxes?

I doubt people are concerned at how much money he made, success is still quite popular in the US, the problem stems from how much he was willing to screw the system in tax avoidance, or worse still in tax evasion.

First off, thanks for replying.

The question then is, did he screw the system or use the system. Our tax code sucks. Companies like GE pay nothing yet sit at Obama's White House and provide input on business.

It is not unreasonable to say that if he used every possible loophole to avoid paying tax that was due then he was more interested in serving himself rather than the nation, and if this is so, it may well be an indicator that he would be a self serving president, looking out for his interests and his cronies interest at the expense of the normal average American.

It is his money. I would use every "loophole" avaliable as well, if it meant keeping more of my money.

At a time when there is an uproar against the mega rich people and corporations avoiding tax and people wanting to see corporations and the mega rich paying their fair share just as every other American has to do, electing a man as president who has a personal history of tax avoidance (allegedly) will make the situation worse not better.

Then this would be a perfect oppourtunity to introduce the flat tax. No loopholes, no exceptions, no exemptions.

It is all well and good him saying he knows how business works, we all do, screw the little guy and feed the fat cat. Corporations have become soulless evil life draining machines, and a CEO of would being president will bring the same ethos to government. Although it could be argued government is already completely soulless

I could care less about a presidents opinion. I just want him/her to lead, deliver the mail, and preferably not start anymore wars.


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If Romney made money and he found a way to keep most of it, I would applaud that. Government has shown that they aren't good fiscal managers. They always spend more than they take.

Also, I find it disturbing that the theme is "it's the governments money". Taxes are now either a carrot or a stick. They (taxes) are used as punative measures (ACA) and as a reward (tax breaks).

Tax refunds are seen as government giving to the people when it is actually, government took too much in the first place!

If Romney paid a little in taxes or paid alot, it'd be more on his accountants than anything else. Warren Buffet still owes a billion in taxes that he is fighting NOT to pay. And he's a poster-boy for this administration.

Which leads me to class warfare. It divides, it polarises, it separates us. Granted, this is what Obama wants.

But is it what America wants?