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Posts Tagged ‘tax returns’

Published on Jul  8, 2012 by    
Ben Labolt, National Press Secretary, has some questions concerning Mitt Romney’s offshore bank accounts and tax returns.

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Think Progress

By Judd Legum  on Apr 17, 2012 at 6:15 pm

In a CNBC interview with Larry Kudlow to air later tonight, Mitt Romney defends his decision to release only two years of tax returns — both filed after he decided to run for President — by claiming that 2004 Democratic nominee John Kerry also released two years. From an advanced transcript:

KUDLOW: Why not release your tax returns? Why not go back 10 years?

Gov. ROMNEY: Well, we’ve had people run for president before, and they’ve released two years. John Kerry released two years of taxes.. I’ve released one already, put the estimate out for the next year. We’ll have two years of taxes..

In fact, John Kerry released not two years of returns, but 20. From an April 14, 2004 article by Byron York:

In addition to his 2003 returns, Kerry also released federal tax returns from the years 1999 to 2002 yesterday. There has been some dispute about returns for those years. Kerry has claimed that he had already released the returns — in January of this year, he said, “I released all my tax returns for 20 years. I have never not released my tax returns throughout my political career.” But aside from releasing details from his 2002 taxes — which showed a total income of $144,091 — it is not clear that Kerry has ever made public his returns from 1999 or 2000 or 2001 before now.

Thus far, Mitt Romney has only released one year of returns. Romney’s father, George Romney, released 12 years of returns, stating “one year could be a fluke, perhaps done for show.”

SOURCE

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Daily Kos

Mon Apr 16, 2012 at 11:50 AM PDT

by- Jed Lewison

Mitt Romney’s campaign explainswhy he doesn’t need to release any more tax returns than the one year’s worth he’s already disclosed:

Mitt Romney has been scrupulous about observing the requirements of the tax code. His income is reported and taxed in full compliance with U.S. law, and he has paid 100 percent of what he has owed. His good name means everything to him. Throughout his life in this and in other matters, he has conducted his personal and business affairs so as to be beyond reproach.

So far beyond reproach, in fact, that they don’t believe anyone has a right to see exactly just how far beyond reproach he went. But you can trust Mitt Romney isn’t a tax crook. His good name means everything to him, after all.

Sure, in 2008, Mitt Romney was willing to give John McCain 23 years worth of tax returns during the vice presidential vetting process. And sure, McCain ultimately picked Sarah Palin over Mitt Romney. But there’s nothing in those returns that would make Mitt look bad. How do we know? Because his campaign said so. Mitt Romney isn’t a tax crook. Period.

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By , Updated: Thursday, April 5, 11:10 AM

The Washington Post

Republican presidential front-runner Mitt Romney, whose wealth has become a central issue in the 2012 campaign, has taken advantage of an obscure exception in federal ethics laws to avoid disclosing the nature and extent of his holdings.By offering a limited description of his assets, Romney has made it difficult to know precisely where his money is invested, whether it is offshore or in controversial companies, or whether those holdings could affect his policies or present any conflicts of interest.

In 48 accounts from Bain Capital, the private equity firm he founded in Boston, Romney declined on his financial disclosure forms to identify the underlying assets, including his holdings in a company that moved U.S. jobs to China and a California firm once owned by Bain that filed for bankruptcy years ago and laid off more than 1,000 workers.

Those are known only because Bain publicly disclosed them in government filings and on the Internet. But most of the underlying assets — the specific investments  of Bain funds— are not known because Romney is covered by a confidentiality agreement with the company.

Several of Romney’s assets — including a large family trust valued at roughly $100 million, nine overseas holdings and 12 partnership interests—  were not named initially on his disclosure forms,  emerging months later when he agreed to release his tax returns.

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WSJ

  • POLITICS
  • Updated March 29, 2012, 9:42 p.m. ET

BY MARK MAREMONT

President Barack Obama’s re-election campaign called on Republican front-runner Mitt Romney to release his tax returns dating back to the 1980s, to see if they contain information about an uncommon investment arrangement at his former private-equity firm that may have helped swell his individual retirement account.

The request follows a page-one article in The Wall Street Journal on Thursday that recounted how employees at the firm, Bain Capital, …

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