Posted by: mulrickillion | January 18, 2012

Mitt Romney’s Tax Rate: Why It Matters

1-18-2012 9-31-11 AM

“Back in October, Priorities USA Action, a super PAC run by a former Obama aide, seized on Scherer’s story and cut an ad twisting the so-called Buffett Rule–named for the legendary Omaha investor’s famous observation that he pays a lower tax rate than his secretary–into the Romney Rule, trying to hit all three points: out-of-touch, corporate, unfair. They brought the video back in the wake of Romney’s remarks.”  See also Dems blitz Mitt on taxes – POLITICO.com, Jan 17, 2012.

By Adam Sorensen, Swampland – Times.com, Jan 17, 2012 — Mitt Romney stammered on Monday night when debate moderators asked him whether he’d release his tax returns.  “I hadn’t planned on releasing tax records, because the law requires us to release all of our assets, all the things we own. That I have already released. It’s a pretty full disclosure,” he said. “But, you know, if that’s been the tradition, and I’m not opposed to doing that, time will tell. But I anticipate that most likely I am going to get asked to do that around the April time period, and I’ll keep that open.” It wasn’t actually an answer–he’s already been asked–and worse yet, it was much more awkward than Romney’s usual Pomade pivot from unwelcome questions. . . .

All of this plays into Romney’s weakest area. Even when he’s making sense, he often has a tin ear when it comes to wealth and corporatism. (In discussing his financial disclosures Tuesday, he referred to hundreds of thousands of dollars he’s earned in speaking fees as “not very much.”) But he’s not deaf to the tax rate issue, and his defense is right there in his campaign’s economic plan: While most of the GOP candidates want to zero out the capital gains rate, Romney would only lower it for families making $200,000 or less. In other words, he wouldn’t lower his own taxes. But the rate he pays is already really low. And now that Romney’s put it out there, Democrats won’t let anyone forget it.

Mitt Romney’s Tax Rate: Why It Matters | Swampland | TIME.com

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