“Just A Private Family Matter”: Mitt Romney Outsources Questions About Finances
We have no way of knowing just yet whether Ann Romney’s explanation in an interview of her husband’s refusal to release tax returns was just her own effort to get past a difficult question, or represents the Final Word from the campaign. If it’s the latter, you gotta admit it’s pretty damn bold, suggesting that Mitt’s finances—not just his tax returns, but his wealth generally—are a private family matter on which the news media and the American people are strictly on a need-to-know basis. And all they need to know is that the Romneys tithe (and no tither has ever, ever been dishonest about money, right?) and that Mitt turned down a governor’s salary in Massachusetts that probably represented a rounding error in his investment income.
This talking-point would barely pass the smell-test even if Mitt had always resolutely treated his “success” (as measured by his fabulous wealth) as irrelevant to the presidential campaign, instead of being the primary reason Americans should entrust him with the presidency, even if he won’t much talk about what he would do in that office beyond killing ObamaCare and inspiring confidence in every direction.
You have to wonder if in the future Mitt is going to “outsource” all questions about his finances to his wife, and then object that anyone who complains about it is engaging in personal attacks on his family. That tactic would certainly be consistent with his general habit of expressing outrage when critics look at his biography or his tax-and-budget plans and suggest things just don’t add up.
By: Ed Kilgore, Contributing Writer, Washington Monthly Political Animal, July 19, 2012
“The Prevailing Order”: The Rich Really Are Different
In the last couple of years, we’ve occasionally seen stories where Wall Street types justify their enormous compensation packages by saying they work really, really hard. They stay late, they work weekends, they just keep their noses to the grindstone, and that’s why they get paid what they do. Sure, $30 million a year is a lot of money. But the hedge fund manager who made it probably worked 1,000 times harder than the electrician who made $30,000. Right?
I thought of those Wall Streeters and their rhetoric about hard work when considering the question of Mitt Romney’s tax returns. One of the things we’ve found out in the whole when-did-Romney-leave-Bain controversy is that even after he retired/went on a leave of absence, he was being paid at least $100,000 a year for doing what he swears was absolutely nothing. That’s a lot of money for doing nothing, at least to people like you and me, but remember that to Mitt Romney, it’s peanuts. According to the information he has released, he made over $42 million in 2010 and 2011 without doing any actual work. He hasn’t held a job in five and a half years, since he left the Massachusetts governor’s office. Tens of millions of dollars just keep pouring into his many bank accounts, without him lifting a finger. And of course, he pays a far lower tax rate on all that income than people who work for a living.
But it really seems that Romney has a hard time understanding why that would rankle people. The entire system is set up to allow people like him to play by a set of rules that was established by the wealthy, for the wealthy; but when you’re the beneficiary, it seems like the prevailing order is a just order. And what Romney wants is to make income from investments and inheritances taxed at an even lower rate. You probably haven’t heard, since there hasn’t been much discussion about it, but Barack Obama’s official position (even if he’s not going to do much about it) is that investment income should be taxed at the same rate as wage income; in other words, money you work for shouldn’t be taxed more (as it is now) than money you make when your money makes you more money. I’m sure that if somebody asked Mitt Romney about taxing all income at the same rate, he’d think the idea was nothing short of insane.
It’s not impossible for someone to benefit greatly from that system and still manage to wrap their heads around the fact that it’s unfair. There are plenty of rich people who do (Warren Buffett is the most visible example). I keep returning to Mitt’s repeated comments that of course he took advantage of every tax loophole he could find to make sure he paid as little as possible. We could argue about whether that’s unpatriotic, but the thing is that for most people who do a job and get paid a salary, there just aren’t those kinds of loopholes available. Not only can’t they afford to hire a team of accountants and tax lawyers; even if they could, there wouldn’t be much those people could do for them.
There is obviously something in Mitt Romney’s pre-2010 tax returns that he really, really doesn’t want people to see. Just how awful it is, we have no way of knowing; it could be something truly shocking, or just more of the offshore accounts and low tax rates we already know about from his 2010 return. But whatever it is, revealing it would no doubt have the effect of reminding people just how different the rules people like Mitt Romney play by really are. And if he’s afraid of that, maybe he’s more self-aware than I’m giving him credit for.
By: Paul Waldman, Contributing Editor, The American Prospect, July 19, 2012
“What Do They Have To Hide?”: Romney, The Senate GOP And the Right-Wing Secrecy Machine
Yesterday, Senate Republicans voted, for a second time in two days, to continue their filibuster of the DISCLOSE Act, a bill that would simply require outside groups spending money on elections to tell the public where their money comes from. At the same time, not surprisingly, Republican presidential candidate Mitt Romney is in hot water for failing to disclose more than the minimum of personal tax returns and lying about his history at the company that made his fortune — all while we know that a portion of his wealth was hidden in infamously secretive Swiss bank accounts.
Senate Republicans and Romney are spending a lot of time and energy this week to keep their financial histories secret. It’s only natural to ask: What do they have to hide?
You would think the DISCLOSE Act would be an easy bill to pass. In fact, many Republican Senators were “for it before they were against it“. What it does is simple: it requires any organization — corporation, union, super PAC or non-profit — that spends money influencing elections to report within a day any election-related expenditure of $10,000 or more. It also requires that these organizations make public the names of the individuals and corporations contributing $10,000 or more to fund this election spending. In short, all those front groups that have been pouring money into elections since Citizens United will have to disclose who their major donors are. Voters would know who was trying to tell them what.
This is not a partisan issue. Disclosure requirements, like those in the DISCLOSE Act, were endorsed as constitutional by the Supreme Court majority that handed down Citizens United. Even the conservative justices who saw no problem with more money in politics assumed that disclosure would be a check on the integrity of the election process.
But Republicans in Congress have been fighting tooth and nail to keep DISCLOSE from the books. Why? The fact that they might not want to publicize the motives of some of these super donors, and the fact that the new flood of outside political spending overwhelmingly favors conservatives, might have something to do with it.
Meanwhile, Mitt Romney is having disclosure problems of his own. It’s standard practice for presidential candidates to release their past tax returns — President Obama has made public his returns from the past dozen years. Even Romney called on his gubernatorial opponents in Massachusetts to release their returns. (In a classic Romney flip-flop, when he was later asked to hold himself to the same standard, he said his original demands had been wrong).
The only conclusion to draw from Romney’s tax-return reticence is that there’s something he doesn’t want us to see. The recent revelations that Romney has told conflicting stories about when he left his job at Bain Capital might give us a taste of what he’s kept hidden. And hiding part of his fortune in tax havens like the Cayman Islands and in Swiss bank accounts that have for centuries epitomized financial secrecy doesn’t help.
The issue of financial disclosure isn’t a sideshow to this election — it’s a big part of what this election is about. How can we trust senators who spend more time covering up the sources of election spending on their behalf than they do legislating? How can we trust a candidate who won’t be open and honest with voters about the source of his personal fortune and the taxes he has paid?
Full disclosure should be a no-brainer in honest politics. The public knows that. Even the Supreme Court knows that. The only people who seem to be missing the message are the politicians who are desperately trying to win elections without telling voters who might be buying them.
By: Michael B. Keegan, The Blog, The Huffington Post, July 18, 2012
“A Tool Of Prophetic Vengeance”: George Zimmerman, Portrait Of A Contemptible Human Being
George Zimmerman is a contemptible human being.
In court, Zimmerman apologized to Trayvon Martin’s parents because their child ran into the bullet that he fired. Doubling down, Zimmerman, appearing on Fox News last night, had the unmitigated gall to offer up the following statement:
“My wife and I don’t have any children… I love my children even though they aren’t born yet, and I am sorry that they buried their child. I can’t imagine what it must feel like, and I pray for them daily.”
Zimmerman is possessed of a type of self-righteous narcissism and faux-empathy for those people whose lives he has ruined. In keeping with his belief that he was a tool of prophetic vengeance, Zimmerman also suggested that it was “god’s plan” that he killed Trayvon Martin.
I do not know who is worse: Is Zimmerman the true villain here, a killer, perhaps mentally unbalanced and a child molester, with a cop fetish priapism who played Dirty Harry because he couldn’t let one of “the blacks” get away again?
Or are those Right-wing reactionary conservatives like Sean Hannity who worship, coddle, and protect Zimmerman doing so because they wish that they were him, a trigger man, one who got to engage in the most dangerous game, hunting down and killing an innocent person of color for sport?
The role of George Zimmerman as an idol, victim, and martyr for the Right is both absurd and freakish.
Unfortunately, for many people who live in a society where political ideology and racial attitudes form a type of Gordian knot, they see justice for Trayvon Martin through a lens which views all people of color, and young blacks in particular, as perpetual suspects whose lives, citizenship, and safety are contingent and not absolute.
Criminality is a precondition of our existence for folks like George Zimmerman and his allies. This is especially true when black folks are confronted by White authority…and those who are overly identified with it.
In all, Zimmerman is likely surprised that he was arrested for the murder of Trayvon Martin. He intimately understands that black life is cheap in America. As such, what is the fuss over shooting dead a black teenager in the street? Zimmerman still does not have an answer to that question. Likewise, his supporters also do not have an answer to that question either.
This is the source of their love for Zimmerman, and sincere rage at his arrest and prosecution. If anything, the murder of Trayvon Martin by George Zimmerman should have just been a minor inconvenience for all involved–except of course the victim, his family, and community. He is just a black anyway, so what’s the big deal? They die everyday in America and no one cares either way.
Consequently, how dare anyone suggest that legal and personal accountability should interfere with George Zimmerman’s fantasy play and rent-a-cop, amusement park, joyride of death.
By: Chauncey DeVega, Open Salon Blog, July 19, 2012
“We The People vs You People”: Why Mitt Romney Won’t Release His Tax Returns
What’s Mitt Romney hiding, exactly? Why won’t he release his long-form birth certificate college transcripts tax returns? Well, his tax returns are probably just the words “I DON’T HAVE TIME FOR THIS PEASANT WORK I’M QUITE RICH YOU SEE” scrawled in a Montblanc on an otherwise blank 1040EZ, but we’ll likely never know: He refuses to release any returns from prior to 2010 (he claims he’ll get around to showing us his 2011 return), which is all sort of weird because the guy has been planning on running for president for a while, and one thing presidential candidates do is release a whole bunch of tax returns, a practice pioneered by this guy named George Romney, the kindly puppeteer/scientist who crafted/programmed young Willard.
Ann Romney, whose horse is competing in the Olympics, went on the TV to patiently explain that, no, the Romneys would not be sharing any more information on their finances. This is an actual thing she said, on ABC: ““We’ve given all you people need to know and understand about our financial situation and how we live our life.”
Whoa, there, Ann. When you’re being painted as a living embodiment of out-of-touch plutocratic wealth, maybe avoid the construction “you people.” Even if you just mean it to refer to “the press,” which it seems like you probably did.
People have some theories about what is so bad in Romney’s tax returns. Some people think he might not have paid any taxes at all one year, which Romney’s campaign denies. (But how do we know?) Matt Yglesias, who points out that the guy already ran for president once so you’d think he’d have cleaned his tax situation up a bit, says maybe there’s something in the very recent past that Mitt doesn’t want exposed (like his disclosing his secret Swiss bank account to the IRS to avoid criminal prosecution in 2009?).
There are a bunch of other reasons, too, and all of them can be summarized as “he won’t release them because they will confirm what we already basically know about Romney’s wealth and business practices.”
But Ben Domenech and Erick Erickson have a different idea of exactly what Romney’s hiding. A brilliant, counterintuitive idea. This is for real their actual theory:
Ben Domenech has been doing some pretty solid reporting in The Transom (you’ve subscribed, haven’t you?) about what might be in Mitt Romney’s taxes. He offers this morning the best and most informed theory.
Why most informed? Well, he talked to people who were familiar with the veep vetting process for McCain in 2008.
Here’s what he reports:
So what about the years before 2009? We know he turned over more than two decades of returns to the McCain campaign during the veepstakes vetting process. What was in them? “Mitt’s taxes were complex, but clean. He overpaid his taxes…”
That’s so simple, I can’t believe I didn’t think of it before. Mitt Romney doesn’t want anyone to know that he… overpaid his taxes. The guy whose effective rate was 14 percent in 2010, the one return he released to the public, definitely paid way more than that in his secret, hidden, earlier returns. He is embarrassed, I guess. He doesn’t want his rich financier friends to laugh at him.
By: Alex Pareene, Salon, July 19, 2012
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