Now that the primaries are over and Mitt Romney may become the next President of the United States, it’s time for him to release all of his tax returns.Why?
- There’s plenty of precedent now for Presidents and Presidential candidates to release their returns. And not just a year or two. Many years. The man Romney is running against, Barack Obama, released 8 years of returns leading up to the year in which he was elected. So far, Romney has released only one year. In Mitt Romney’s case, there are enough questions about where his money is, how much he makes, what taxes he pays, what he gives away (and to whom), and so forth, that there is even more reason than normal for him to release them.
- Everyone already knows Mitt Romney is loaded, and he says he has paid all of his taxes, so he should have nothing to hide. In fact, he should want to release all of his returns, just to shut up the critics who keep saying that he must have something to hide.
- Mitt Romney says taxes on rich people are too high, so if he releases his returns, he can use himself as a prime example of the harm that this causes the economy. If he truly believes that current tax rates on the richest Americans are hurting the economy, Mitt Romney should show people how much he has paid in taxes–and how much he would have taken home if his taxes had been lower. He can explain why the economy would be better off if he had only had to pay, say, a 10% tax rate in 2010 instead of the 14% he actually had to pay.
- Romney says that instead of resenting him for being a member of the 0.01%, Americans should be be proud of and emulate his success. That’s a perfectly reasonable position. So, instead of hiding from it, Romney should stand behind his success and show people how well he has done.
- Romney’s own father released a dozen years of tax returns and said that one year is meaningless. Romney’s father didn’t legally have to do that. He did it because it was the right thing to do. Romney should follow his father’s example.
So, it’s time for Romney to release his tax returns for the last, say, 8 years.
Otherwise, with every day that goes by that he refuses to, it will be fairer and fairer to conclude that he really does have something to hide.
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