Posts

Showing posts from August 19, 2012

What is Romney hiding and why?

It's traditional, but not required, that presidential nominees release copies of their tax returns. The posting of the returns is a form of trust despite the fact that only an accountant could understand them. This is a standard set by George Romney in 1968 when he released 12 years of returns whilst running as a presidential candidate. The Clintons released 8 years. Both Bush's (senior and junior) released 3 years and 7 years respectively. Reagan released 6 years. Barack Obama has released 11 years worth (even showing he overpaid by $8,000 on the income from his books last year). Mitt Romney still steadfastly refuses. Sort of.
At first he said he didn't plan to release the returns. Then he said, "Maybe." Then he declared he'd release only the previous two years' returns. Then he said that because of the complexity of the return, he filed for an extension from the IRS so he could file after the April 15 deadline for the 2011 return. Then this past week be…