What does Mitt Romney's tax returns hide?

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Forums > All Posts > What does Mitt Romney's tax returns hide?

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01-05-2012, 03:46 PM

Schmidt
Colorado Springs, CO
Posts: 1058

Reference: TPM, January 5, 2012: Here’s What Romney’s Unreleased Tax Returns Almost Certainly Hide

Mitt Romney has repeatedly said he would not do the customary thing and release his prior tax returns even if he is the Republican nominee. Of course this has gotten him some bad press, but as TPM points out, the release of the forms could be even more damaging.

Romney is a privileged poster child for the “Buffett Rule” — President Obama’s principle that the tax code should make it impossible for a person of great wealth to pay a lower share of their income in taxes than ordinary people. The DNC knows it, policy wonks know it, Romney certainly knows it. But the reasons why are technical and illustrate just how different Romney is from the vast majority of Americans who will cast votes for him — in either the GOP primary or the general election.

According to tax experts, Romney's tax rate despite his millions in annual income is likely about 14 percent, compared to the top marginal tax rate of 35 percent for his income level. Romney employs “fairly sophisticated tax strategies” that would be “not available to ordinary tax payers.”

How would this sit with voters?

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