At DNC, Reid Hammers Romney On Tax Returns (VIDEO)

[ProSense]

At DNC, Reid Hammers Romney On Tax Returns (VIDEO)

Sahil Kapur

During the opening night of the Democratic convention, Senate Majority Leader Harry Reid again swung at Mitt Romney for refusing to release more tax returns.

“When you look at the one tax return he has released it’s obvious why. It’s obvious why there’s only been one. We learned that he pays a lower tax rate than middle-class families; we learned that he chose Swiss bank accounts and Cayman Island tax shelters over American institutions,” Reid said Tuesday. “We could only imagine what new secrets would be revealed if he showed the American people a dozen years of tax returns — like his father did.”

The Nevada Democrat ignited a firestorm late July after he said an informed Bain investor told him that Romney hadn’t paid taxes for a decade. Lacking evidence for his claim, Reid faced fierce criticism, but repeatedly stood by his charge, putting the Republican nominee on defense for weeks over his taxes.

Romney has released a partial tax return for 2010 and says he’ll release only one more year. He has emphatically denied Reid’s claim, and the senator did not repeat it Tuesday night.

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http://tpmdc.talkingpointsmemo.com/2012/09/at-dnc-reid-hammers-romney-on-tax-returns-video.php

Give 'em hell, Harry!

[Vox Moi]

1. I think that Reid is too narrowly focused on 'Taxes Not Paid' ....

... as if it were an accounting error or some arcane tax law loophole.
We have no compelling evidence that that Mitt has done something more than any of the 1% would do to reduce income taxes.
I think that attention to this line of inquiry is fading.

There are, however, two compelling issues that go beyond the realm of standard deductions.

Did he benefit from the 2009 IRS amnesty for tax cheats using off-shore accounts?
That would make him a pardoned felon.
There is no way of knowing if Mitt's answer is true or false without releasing the returns but I want to see Romney's response to this. Those returns were seen by McCain's staff (and the IRS). A leak to the contrary of Mitt's response would be the end of Romney's public life.

How he manage to salt away an IRA of at least $20 million? According to one analyst, Mitt could have contributed a maximum of less than a half-million. If so, he got a 4,000% return on investment, more or less. Some claim that the IRA is worth $100 Million.
Seeing that most of Mitt's investment were with Bain Capitol, an organization he ran with 'a dictatorial style'. One might ask how it was that he, personally, profited so handsomely. One might ask if other investors in Bain realized that kind of ROI. Maybe one of them investors will shed some light on this.

Is putting money to work what Mitt means when he says he knows how to create jobs?

Inquiring minds want to know