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Mitt Romney's Tax Returns
A Whig Manifesto ^ | Jan. 18, 2012 | Chuck Morse

Posted on 01/17/2012 8:56:40 PM PST by Chuckmorse

Democrats are all in a twitter over the recent revelation that Mitt Romney likely paid an annual average of only 15% of his income in taxes. They ignore the likelihood that he also likely paid an average of 10% of his income in annual tithing to charities as required by his Mormon faith. Democrats are banking on the premise that this sort of class envy rhetoric might help them in a year when the public has become conditioned to blame capitalism for the economic woes that have beset the country these past three years.

As a presidential candidate, how does Mitt Romney stack up in terms of wealth and taxes when compared to other presidential candidates in recent elections? Mitt Romney is, after all, being criticized for being rich but how, putting aside the fact that there is nothing at all wrong with being rich per se, does Mitt Romney compare to other recent candidates for president and how, when compared to other candidates, did Mitt Romney make his money?

Let’s start with Massachusetts other recent presidential nominee, 2004 Democratic nominee, Senator John Kerry. Boston radio talk show host Howie Carr likes to point out that Kerry, likely the richest person in Congress and worth an estimate just shy of a billion dollars, lives off of the fortune of “his second wife’s first husband.” While Kerry married his money, Mitt Romney was earning his as a founding partner of Bain Capital which was worth $37 million at its founding in 1983 and which is worth over $66 billion today. While Bain could be legitimately criticized for some of its dealings, on the aggregate, Bain Capital has been an incredible success story and is a company that has been respected by liberals and conservatives alike in Massachusetts.

The 2000 Democratic nominee, Vice President Al Gore, is another case in point. Born with a silver spoon in his mouth, Al Gore Jr. was the beneficiary of a stock portfolio set up by his late father, Senator Al Gore Sr. when Gore Sr. was CEO of the division of Occidental Petroleum that was involved in strip mining and polluting Love Canal in upstate New York.

The means of obtaining wealth and the tax returns of President Bill Clinton are the stuff of legends. Benefiting from a cattle futures trade that turned a couple of thousand bucks into a hundred thousand virtually overnight, Clinton’s wife was appointed to the board of several major corporations with lucrative benefits, including Wall Mart, while Clinton was Governor of Arkansas and the corporations in question were doing business in his state. The Clinton’s were involved in the notoriously unethical, but legal, real estate deal known as Whitewater which involved such charming aspects as throwing elderly owners of units out if they were a day or two late on their mortgage. Meanwhile, Clinton’s tax returns revealed tax deductions for soiled underwear.

Clinton and his wife went on the receive multi-million advances for their memoirs after leaving the White House and the former president garners six figure fees for speaking engagements which brings us to the present occupant of the White House. Besides making millions in advances from his books, and admitting to receiving a sweetheart real estate deal from Chicago convicted felon Tony Rezko, President Barack Obama was accused of profiting from drug company stock while a senator overseeing drug regulation. President Obama did nothing illegal as, apparently, this has been the practice of several senators and representatives of both parties in recent years.

The important question for a presidential candidate is not whether they are rich but how they earned their wealth. Romney made his money the old fashioned way, he earned it. In these times of economic dislocation, massive public debt, and financial insecurity at home and abroad, this question is important as we consider who would be the right leader for these times.


TOPICS: Politics
KEYWORDS: algore; howiecarr; johnkerry; mittromney

1 posted on 01/17/2012 8:56:44 PM PST by Chuckmorse
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To: Chuckmorse

Completely misses the point. How could he not be prepared for this? He’s been running for President for a decade and it never occurred to him someone might ask to see his tax returns?

It boggles the mind that he wasn’t prepare to answer this.


2 posted on 01/17/2012 9:04:39 PM PST by DManA
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To: Chuckmorse

DanRiehl DanRiehl
The Book On Mitt Romney: Here Is John McCain’s Entire Opposition Research File buzzfeed.com/andrewkaczynsk…

http://www.buzzfeed.com/andrewkaczynski/the-book-on-mitt-romney-here-is-john-mccains-ent


3 posted on 01/17/2012 9:10:32 PM PST by jennychase
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To: DManA

Maybe he thought the Media would treat him like they treat Obama.


4 posted on 01/17/2012 9:11:00 PM PST by Hoosier-Daddy ( "It does no good to be a super power if you have to worry what the neighbors think." BuffaloJack)
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To: Hoosier-Daddy

Well how stupid is that?


5 posted on 01/17/2012 9:21:46 PM PST by DManA
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To: Chuckmorse

Don't cry to me, Mitt.
6 posted on 01/17/2012 9:23:31 PM PST by ari-freedom
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To: Chuckmorse
"They ignore the likelihood that he also likely paid an average of 10% of his income in annual tithing to charities as required by his Mormon faith."

To charities? I don't think so. 10% tithing goes to the church.

7 posted on 01/17/2012 9:23:38 PM PST by Spunky (Sarah Palin on Polls "Poles are for Strippers and Cross Country Skiers")
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To: DManA
Completely misses the point. How could he not be prepared for this? He’s been running for President for a decade and it never occurred to him someone might ask to see his tax returns?

It boggles the mind that he wasn’t prepare to answer this.


If Obama had refused to release his returns in 2008, you can bet that Willard would have made a big deal about it....
8 posted on 01/17/2012 9:26:56 PM PST by af_vet_rr
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To: af_vet_rr

I literally cannot figure the guy out. It’s so basic and simple. And he acts like a deer in the headlights.


9 posted on 01/17/2012 9:32:53 PM PST by DManA
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To: Chuckmorse

They ignore the likelihood that he also likely paid an average of 10% of his income in annual tithing to charities as required by his Mormon faith.
____________________________________________

and well they should ignore that myth

hardly a penny of that 10% went to charity

it all went into the Mormon Inc coffers to buy land and build resorts in Hawaii and a $5 BILLION mall in SLc

and to pay for the 15 top Mormon leaders lavish lifestyles...

The Mormon business only gives about 1% to charity of the multi millions they take in every year..


10 posted on 01/17/2012 9:33:17 PM PST by Tennessee Nana
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To: DManA

Is it possible the guy is just basically stupid?


11 posted on 01/17/2012 9:33:48 PM PST by DManA
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To: DManA

Is it possible the guy is just basically stupid?


12 posted on 01/17/2012 9:33:58 PM PST by DManA
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To: DManA

“...and it never occurred to him someone might ask to see his tax returns?”

Hell no! It’s what, four years later and we’ve not seen Obama’s college transcripts? His academic applications? His Birth certificate?

Oh, did I say his birth certificate?

Why should Romney worry about his tax returns?


13 posted on 01/17/2012 9:34:09 PM PST by Bshaw (A nefarious deceit is upon us all!)
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To: Bshaw

You think not worrying about it is a smart political strategy?


14 posted on 01/17/2012 9:36:19 PM PST by DManA
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To: Chuckmorse

If Mitt had balls, which he doesn’t, he’d say he’ll release his tax records when Obama releases his college and medical records.

But he’s a left wing idiot so I’m pissing in the wind.


15 posted on 01/17/2012 9:42:34 PM PST by Fledermaus (A snow ball in hell has a better chance of surviving than Ron Paulyp in the primaries.)
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To: DManA
I literally cannot figure the guy out. It’s so basic and simple. And he acts like a deer in the headlights.

He probably isn't really used to people questioning him or being opposed to him. He's the type that surrounds himself with yes-men, both in his corporate life, and as Governor, and probably with his campaign.

He also probably believes it's his turn and he's confused that we are not willing to let him have it.

He's also out of touch with regular folks. His comment about how he couldn't have illegals working for him because he was running for office reminded me of that.

He's in a completely different world than you or me. When you believe that it's your turn to be the nominee and when you aren't used to people disagreeing heavily with you, and you're spending all this money to get people to like you, it can be shocking.

Go back to 2008 and look at how John McCain acted. McCain was acting like it was his turn and he didn't seem to understand that a lot of folks disagreed with him.
16 posted on 01/17/2012 9:45:02 PM PST by af_vet_rr
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To: af_vet_rr

I think he’s got this attitude of “Noblesse oblige”.

I don’t need this but you need me so I’m making the sacrifice. Why aren’t you THANKING ME?!?!?!?


17 posted on 01/17/2012 9:55:04 PM PST by DManA
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To: Chuckmorse

Just do it Mitt. The Democrats will.


18 posted on 01/17/2012 10:05:49 PM PST by pallis
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To: Chuckmorse
They ignore the likelihood that he also likely paid an average of 10% of his income in annual tithing to charities as required by his Mormon faith.

So?
19 posted on 01/17/2012 11:18:42 PM PST by SoConPubbie
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To: DManA

I don’t like Romney and I don’t really get a rodent’s rectum about his tax returns, but I think that any and all questions like this need to not only be ignored, they need to be thrown back in the questioner’s teeth.

I think the Romney should say flat out, “I’ll release my tax returns the day Obama releases his transcripts — and all the other papers he has so carefully hidden from the American people.”

This is gone on long enough. It’s time the media did what it is supposed to do and thoroughly vet Obama!


20 posted on 01/17/2012 11:55:02 PM PST by Ronin (If we were serious about using the death penalty as a deterrent, we would bring back public hangings)
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To: Ronin

That’s a good suggestion. That is not what Romeny is choosing to do.

I, um ah guess ah, that I will, um, release them ah sometime um ah in April, which is ah what candidates uh ah usually do.


21 posted on 01/18/2012 5:58:54 AM PST by DManA
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To: DManA

I’m wondering if this reluctance is about Romney’s charitable deductions. Media should ask for a list of those, say for the last few years. That list might be very instructive.


22 posted on 01/18/2012 6:01:42 AM PST by mewzilla (I'll vote for the first guy who promises to mail in his SOTU addresses.)
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To: Ronin
I prefer to wait until after I've examined the returns to see if I still give a rat's hairy hind end.

I want to see Obama's, too, though I won't hold my breath while I wait.

23 posted on 01/18/2012 6:04:38 AM PST by mewzilla (I'll vote for the first guy who promises to mail in his SOTU addresses.)
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To: DManA

“You think not worrying about it is a smart political strategy?”

I do not think Romney capable of a smart political strategy....


24 posted on 02/03/2012 8:54:35 PM PST by Bshaw (A nefarious deceit is upon us all!)
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