Tax Return Hypocrisy
This tax return fiasco has gotten ridiculous. People on both sides of the aisle who have never released their own tax returns are demanding that Presidential candidates release theirs. The focus is mainly on Mitt Romney and his reluctance to reveal is tax returns. Now as a smart businessman, Romney is very likely to have had many tax breaks. There is nothing wrong with that if he just used the current tax legal system in place. If voters do not like that then they should demand the system be changed, not punish Romney for being successful. Now, what I think is likely why there has been a reluctance to release the tax returns is because of Romney’s various ventures, he probably had substantial losses during the financial crisis, enough so that he was able write off enough of his income that he paid zero taxes during that period and is worried that the other side might advertise that to the large non logical thinking voting cohort that won’t rationalize that Romney was just following the rules of the system. The Boston Herald continues, “Income tax returns have apparently become the new Holy Grail of politics as practiced by Democrats — from Senate majority leader Harry Reid to Massachusetts Senate candidate Elizabeth Warren. When in doubt demand — loudly and often — that Republican candidates release more and more and more of them.
Reid, who of course has never released any of his tax returns, has demanded that Republican presidential candidate Mitt Romney release a decade’s worth of his. Asked if she supported Reid’s demand, Warren on Monday told GoLocalWorcester, “I think this is an important point of public principle — that for every year he [Romney] was in public service, he should release his tax returns. I think that should be the arrangement. If he started in public service, started running for governor in 2002, he should release them from then on. He’s been running ever since.” Then it must have occurred to Warren to up the ante for the man she wants to oust from the U.S. Senate, Republican Scott Brown…”
Source - Boston Herald