Posted by: The Busy Post | August 16, 2012

Mitt Romney: ‘I’ve never paid less than 13 per cent tax in last ten years’ – Telegraph


2 years is the legal requirement.  Dems are just looking for some dirt on Romney.

If Romney were smart he’d agree to release his tax returns if Obama releases his college transcripts, college admission documents, law records, etc.

That shouldn’t be too much for the most transparent President ever!

The statement formally squashed unsubstantiated claims by the most senior Democrat in Congress, Senator majority leader Harry Reid, that Mr Romney “didn’t pay any taxes for 10 years”.

After days of poisonous conjecture, the Republican presidential candidate, who amassed a $250m (£160m) fortune as the head of the Bain Capital private equity firm, challenged Senator Reid to produce the evidence while campaigning in South Carolina.

“I did go back and look at my taxes and over the past ten years I never paid less than 13 per cent. I think the most recent year is 13.6 or something like that. So, I’ve paid taxes ever single year, Harry Reid’s charge is totally false,” he said.

“I’m sure waiting for Harry to put up who it was who told him what he says they told him. I don’t believe it for a minute, by the way; but every year I’ve paid at least 13 per cent and if you add in addition the amount that goes to charity, well, the amount gets well above 20 per cent.”

Mr Reid’s apparently opportunistic use of anonymous sources has been widely condemned as an example of how nasty the current US election campaign has become, with a Washington Post editorial arguing that Mr Reid’s “smear tactics are not unlike those of Joseph McCarthy”, the force behind the notorious Communist witch-hunts of the 1950s.

Mr Romney’s taxes have been a near-constant theme of an increasingly bitter campaign since he refused to release more than two years of tax returns despite calls from Democrats to follow the example of Mr Obama and release 12 years of returns.

Several senior Republicans have also called on their candidate to release his returns as the fastest way to end speculation, which deepened last month after press investigations highlighted that Mr Romney had held accounts in Switzerland, Bermuda and the Cayman Islands.

The Obama campaign, which has used the personal tax issue to paint Mr Romney as a secretive elitist who has no empathy with America’s struggling middle classes, released a statement saying it still was not satisfied.

“Since there is substantial reason to doubt his claims, we have a simple message for him: prove it,” said Lis Smith, an Obama campaign spokeswoman in a statement, who added that Mr Romney had “forfeited the right to have us take him just at his word.”

“Even though he’s invested millions in foreign tax havens, offshore shell corporations, and a Swiss bank account, he’s still asking the American people to trust him,” she said.

Despite the goading from the Obama campaign who point out that Mr Romney’s beloved father, the former Michigan governor George Romney, released 12 years of returns, the Romneys have insisted that two years is sufficient.

Ann Romney, visiting her ancestral village in South Wales two weeks ago, reiterated that position in an interview broadcast yesterday.

“We have been very transparent to what’s legally required of us,” she said during the interview with NBC News, adding later “we have done what’s legally required and there’s going to be no more tax releases given.”

Democrats, however, appear determined to keep the issue of Mr Romney’s taxes front-and-centre of a campaign where the ideological debate is exemplified by Republican opposition to Mr Obama’s pledge to make millionaires pay higher taxes.

The truth behind Mr Romney’s taxes may never be known, however. Sen. John McCain, the defeated 2008 Republican candidate whose campaign saw 20 years of Romney tax returns while vetting him for a possible vice-presidential role, has said there was nothing “disqualifying” in them.

Mr McCain also vouched for Mr Romney’s claim that he has paid tax every year over the last decade. “Nothing in his tax returns showed that he did not pay taxes,” Mr McCain said during an interview with the Las Vegas Sun.

via Mitt Romney: ‘I’ve never paid less than 13 per cent tax in last ten years’ – Telegraph.

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