
Mitt Romney, who hasn’t had a job in years because America won’t hire him, doesn’t want to subject himself to a credit check as a condition of maybe finally landing a job:
Mitt Romney, who is one of the wealthiest men ever to seek the presidency, said on Wednesday that he had no intention of releasing his tax returns if he became the Republican presidential nominee, breaking with a long tradition in both parties.
Mr. Romney made the statement in an interview with MSNBC on Wednesday, but the network did not show that part of the interview. Mr. Romney, a multimillionaire who made his fortune running a private equity firm, was asked whether he planned to release his tax return.
“I doubt it,” Mr. Romney said, according to a transcript of the interview provided by NBC News. “I will provide all the financial info, which is an extraordinary pile of documents which show investments and so forth.”
“But you won’t do the tax returns?” asked Chuck Todd, host of “The Daily Rundown.”
“I don’t intend to release the tax returns. I don’t,” Mr. Romney responded.
This could be why:
In what would be the final deal of his private equity career, he negotiated a retirement agreement with his former partners that has paid him a share of Bain’s profits ever since, bringing the Romney family millions of dollars in income each year and bolstering the fortune that has helped finance Mr. Romney’s political aspirations.
The arrangement allowed Mr. Romney to pursue his career in public life while enjoying much of the financial upside of being a Bain partner as the company grew into a global investing behemoth.
In the process, Bain continued to buy and restructure companies, potentially leaving Mr. Romney exposed to further criticism that he has grown wealthier over the last decade partly as a result of layoffs. Moreover, much of his income from the arrangement has probably qualified for a lower tax rate than ordinary income under a tax provision favorable to hedge fund and private equity managers, which has become a point of contention in the battle over economic inequality. Much information about Mr. Romney’s wealth is not known publicly. Federal law does not obligate him to disclose the precise details of his investments. He has declined to release his tax returns, and his campaign last week refused to say what tax rate he paid on his Bain earnings.
[...]
But since Mr. Romney’s payouts from Bain have come partly from the firm’s share of profits on its customers’ investments, that income probably qualifies for the 15 percent tax rate reserved for capital gains, rather than the 35 percent that wealthy taxpayers pay on ordinary income. The Internal Revenue Service allows investment managers to pay the lower rate on the share of profits, known in the industry as “carried interest,” that they receive for running funds for investors.
“These are options that are not available to the ordinary taxpayer,” said Victor Fleischer, a law professor at the University of Colorado who studies financial firms. “You continue to take your carried interest — a return on labor, not capital invested — and you’re paying 15 percent on it instead of high marginal income rates.”
In fact, Mitt Recently pointed out that it is hard out there for middle-class people like himself:
“I think it’s a real problem when you have half of Americans — almost half of Americans that are not paying income tax,” the candidate told a group of supporters at a town hall event in Florida. “My own view with regards to tax policy is that we ought to provide help to the people that have been hurt most by the Obama economy, and that’s the middle class.”
“It’s not those at the low end and it’s certainly not for those at the very high end. It’s for the great middle-class, the 80 to 90 percent of us in this country.“
Yeah. This is going to be fun.




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I can’t stand this smarmy asshole millionaire son of George.
Also he doesn’t want people seeing that he tried to write off the family dog house as “overhead”.
That’s why it’s called “the middle” class. Because it comprises 80-90 percent of the total. The same way that most of a fat idiot’s weight is concentrated in his “middle.”
so.much.win.
Emphasis mine.
Well, hey: I *thought* that rich fucking shits like Mitt were considered a feature of Republican candidates, and that TeaGOPers would be thrilled to the marrow of their bones to learn just how Mittens has accrued and accumulated his vast, untold riches offa the backs of the grunts in the 99%. What am I missing? Of course, Willard *says* he’s middle class bc even those who are unemployed & living in trailers listening to el-Lushbo *believe*
in Tinkerbell and Santa Clausthat they, too, are nearly just about as wealthy as someone like Mitt.Why would the TRUTH about his fabulous wealth disturb the TeaGOPers?
I will say, though, that it’s kind of cool that we in America are actually having “a battle over economic inequality” nowadays. It used to be a bunch of DFH bloggers howling at the moon.
We’re not having a ‘battle over economic inequality’- there hasn’t been any shooting/looting/lynching yet. Fat-ass maggot bastards like Mitt are the drum majors in this steady march toward feudalism. My only hope, at this point in time, is that the truth about his life and livelihood as a corporate slash-and-burn wizard gets heard by that part of the 99% who don’t realize they are actually part of the 99%. Vampire sumbitch, he deserves to get the nomination, then watch the whole Mittmentum crash and burn in 2012. Crawl back in your hole, Mitt, you subhuman leech! Genetically Modified Ogliarch.
Hell Dick Vader showed us how to do this shit.
Romney: 100% USDA Prime Prick.
Well, give the guy a break. He can’t actually see the invisible hand writing those checks.
Romney is committing political suicide by refusing to release his tax return: it will be to him what The Birth Certificate was to Obama.
Moreover, we do not need to establish a tradition of national officeholders with opaque personal finances. Arguably people who hold personal office should be required to do a total financial disclosure regularly by law.
Two days ago, JEB articulated the word “Statists” intended to malign anyone who recognizes that deregulation crashed the economy. Today I heard some right wing creep on FM talk radio parroting Statist.
Statist Stalinist, Librul Commies we are.
Until he gets a job and can show earned income, he can’t defer his IRA contributions.
A large part of the 99% are domestic compradors who pray they can ride this bronco out of town. Slash-and-burn wizardry is well accepted among them; it’s their ticket to freedom. Sure, they’re not among the .1%, but they sure aren’t down with you sad sacks.
Show us the 1040 longform, Mr. Romney! Where is the money berthed?
If he has no income, wouldn’t he be very concerned about the fate of unemployment benefits? Just logical, it seems.
Wait, I thought he worked at Staples?
This really sucks. This carried interest lets these bastards pay 15% taxes. And Mitt is unemployed so he pays zero SS. Think that is less than most secretaries?
PS that is on taxable income. After deductions.
How the fuck could anyone vote for this turd?
Mitt empathizes with “Middle Class America”(TM). Do you realize how difficult it is to get the village of La Jolla to give you a zoning variance to you can build an addition onto your house big enough to accommodate the five sons who will be living in your basement?
Romeny, Obama – you have no political choice in America.
America’s political leaders are, well, insane.
America’s captains of industry all rely on direct government support (ie, communism).
Just what is holding all this together … duct tape?
The fucks that would consider Morman vs. Muslim as the lesser evil. And that race thing too.
Mitt sold his home here in Mass. in 2009. But he voted here in 2010 in the Scott Brown special election, listing as his address a basement apartment UNDER his son’s garage.
My questions are; 1)Is he guilty of voter fraud? And, 2) Did he get foo stamps as an unemployed $Millionaire?
Romeny, Obama – you have no political choice in America.
Is that you Ralph?
I am way late to this discussion, but i just want to tell you that your comment is great! And so very accurate, this IS going to be fun to watch Mittens try to work around and do verbal gymnastics on why he cannot/will not release his tax returns.
We already know what he did with the e-mails while Governor of Mass. and in my humble opinion, it bordered on the illegal.
I’ve heard that Mormons have to submit tax returns to prove that they are tithing 10%. Perhaps Mitt gets an exemption. If he’s not giving 10%, he’s in big trouble. The elders take money very seriously.
UncertaintyVicePrincipal wins the intertubes for today.
He’ll eventually have to release his returns; it’s only a question of how long it gets dragged out.
Strictly idle curiosity, but what are the odds of the Mitt having five sons and no daughters? Sonograms? Abortion of female fetuses? Statistically these are incredibly high odds. Even for a Mormon.