Cheyenne, WY – What is this ridiculous non-issue about Mitt Romney’s taxes? Senate Majority Leader Harry Reid (D-NV) demonstrated his ignorance (and the Democrat Party’s desperation, not to mention deviousness) by stating that he has what he thinks is an “informed explanation” for why Mitt Romney “refuses” to release more tax returns. According to a Bain investor, Reid charged, Romney didn’t pay any taxes for the past 10 years.
This allegation, coming from a supposedly responsible member of the Senate and the Democrat Party, is simply unbelievable. Why? Because, for one thing it is completely untrue. For another, it is so easily disproved.
As any taxpayer knows, the law does not require the release of anyone’s tax returns. Further, the IRS is forbidden by federal law to disclose or release any taxpayer’s federal tax forms without that person’s permission, in writing. Yet, I’m reporting now, because so many seem totally unaware of it, the couple has released its 2010 tax return, comprised of over 500 pages in its entirety (Just Google “Mitt Romney’s 2010 Tax Return” and you can see for yourself).
They also released an estimate of their 2011 return, filed a Request for Extension, and paid an estimated tax for 2011, as required by law. (Romney has stated that a full copy of their final 2011 return will be made public as soon as it is filed in the upcoming weeks). Recently, in response to the raising of this “Red Herring” issue by (let’s call them) desperate Democrats, Mitt has publicly stated that he may release a third year of his tax returns prior to the election.
The release of these 500+ pages of tax returns goes well beyond what is required by any laws, or any “Disclosure” or “Transparency,” – unless you’re running for election and your desperate opponent decides to engage in a fishing expedition, looking for anything he or she can find that might then be twisted to make you look bad. Or, your desperate opponent demands that you release many years of Returns, and then, if you refuse, states that you must have something to hide.
So, what’s with Harry Reid; or as Rush Limbaugh calls him – “Dingy Harry?”
From his office on Capitol Hill, in a wide-ranging interview with a liberal publication, a rag which shall go unnamed by this writer, Reid dug himself a hole with this: “Mitt Romney should be regarded as guilty of tax fraud until he proves otherwise, because he has not paid taxes for 10 years.” Hmm. So now, according to “Dingy Harry,” Mitt Romney is a felon.
Since Reid has a law degree, he should understand something that is taught to any first year student of Criminal Law; the presumption of innocence – that a person charged with a crime is presumed innocent until proven guilty. Reid’s failure to take into consideration the presumption of innocence notwithstanding, where is he getting his information?
Saying he has “no problem with somebody being really, really wealthy,” Reid dug himself an even deeper hole with this: “A month or so ago,” he said, “a person who had invested with Bain Capital called my office, and said, ‘Harry, he didn’t pay any taxes for 10 years,’”
For heaven’s sake, Harry. If you’re talking and you find you’ve dug yourself into a hole, stop digging!
Most people would recognize the soundness of that advice. Not “Dingy Harry.” Reid continued to dig, recounting this person as saying. “He didn’t pay taxes for 10 years! Now, do I know that that’s true? Well, I’m not certain,” said Reid. “But,” he added, in a comment that makes it appear that he certainly believes it’s true, “obviously he [Romney] can’t release those tax returns. How would it look?” Never mind that Romney has already released two years of returns, that Harry Reid has never released ANY of his own tax returns, federal or state, and that Reid has not yet provided the name of the so-called source of his information about Romney.
In the same interview, still shovelling hard, Reid saved some of his toughest words for the presumptive Republican presidential nominee. “Romney couldn’t make it through a Senate confirmation process as a mere Cabinet nominee,” the majority leader insisted, “owing to the opaqueness of his personal finances.”
This charge is also quite surprising because the Romneys have already provided extensive information about their personal finances, with several hundred pages of tax returns now made public, and more to come.
Governor Romney’s tax returns show: that as a successful businessman he has not only added value to our economy through his investments and other business activity, but he has paid millions in taxes every year to the U.S. government.
To give the lie to the charge that he has “paid no taxes for ten years,” let’s just take a peek at his already released 2010 Return:
Line 44 Tax …………………………………. $ 2,873,054
Line 45 Alternative Minimum Tax ………… $ 232,989
Total of Lines 44 and 45 …………………… $ 3,106.043
. . . . . . .. . . . . . . . . . . . . . . . . . . . . . ……
Line 60 Total Tax ..……………………..… $ 3,009.766
That’s what Mitt and Ann Romney paid in federal taxes for tax year 2010. In addition, in 2010 they paid a State Income Tax of $ 672,444.
To prepare their Returns the couple used the well-respected accounting firm of Price, Waterhouse, Cooper, LLC, at 125 High Street, Boston,MA 80211.
Despite the ease with which the Romneys tax and other financial information can be accessed, Reid and the desperate Democrats continue to ignore the facts: Mitt and Ann Romney have scrupulously complied with the U.S. tax code, their income has been reported and taxed at the applicable rates, and they have paid 100 percent of what they owed.
In addition, the facts further show, and I’m reporting this now in case no one is yet aware of it, that Governor Romney has released numerous financial disclosures since 2002, as required by law – all of which have also been made public. There are three federal Public Financial Disclosures (from 2007, 2011, and 2012), and six Massachusetts Statements of Financial Interests (from 2002, 2003, 2004, 2005, 2006, and 2007).
With a decade’s worth of financial disclosure documents and the Romneys’ recent tax returns, the American people have an extensive view of the Governor’s personal finances, above and beyond what is required by the law, and above and beyond what any candidate is required to disclose.
Here’s a final thought: In earlier articles I’ve said that Mitt Romney seems to me to be more “Christian” than many Christians I know. Here’s just one reason why I’ve said that. The Romneys apparently take to heart the Biblical principle, “to whom much is given, of him shall much be required.” Accordingly, they have been extraordinarily generous in their charitable giving, donating over $7 million in 2010 and 2011 – donating even more to charity than they paid in taxes. This is something that the vast majority of Democrats, including Harry Reid, cannot say.
So now, we can see that this tax return issue is simply a “Red Herring;” an attempt by the desperate Democrats (doesn’t that trip lightly off the tongue?) to divert attention from Obama’s failed policies, and from his record of non-accomplishments, on which he cannot run, It’s now time to focus on the real issues in this campaign – the most important of which is turning around the economy and putting 23 million Americans back to work again.
For more interesting articles by Tony, and for more information, visit his website at http://www.saccoservices.com/index.php