Intuit, the parent company of TurboTax, launched a campaign against return-free filing which would not only allow free and simple filing for millions of Americans but would also be completely voluntary. Nonetheless, a “grass roots” campaign was started claiming the IRS was trying to “take over” an industry and tyrannically threatening “tax payer rights.”
|By: David Dayen Friday September 21, 2012 1:45 pm|
Mitt Romney’s tax returns are now posted, along with that letter summarizing the previous 20 years of taxes. You can find them here.
Without delving too deeply into the return, I will say that Romney’s low effective tax rate is not a function entirely of Mitt Romney being a scoundrel as it is a function of the way the tax system is designed in America. None of Romney’s gross income came from wages or salaries or tips in 2011. All of it came from interest, dividends, a little business income, and capital gains.
|By: Jon Walker Friday September 21, 2012 12:15 pm|
This letter is a lot of effort to go through to create the veneer of disclosure while still keeping the actually information secret. It begs that question, if Romney is willing to disclose this much information about his tax returns, what is in them that he doesn’t want people to know about?
|By: Jon Walker Thursday September 13, 2012 11:20 am|
Apparently to truly know if someone is acceptable for the very important job of Vice President it requires examining their tax returns for the past decade. From the Daily Beast:
As part of its vetting, the Romney campaign required at least some of the candidates on the short list—including the eventual winner of the GOP veepstakes, Ryan—to submit fully 10 years of tax returns, according to a knowledgeable source.
|By: Phoenix Woman Saturday September 8, 2012 6:45 am|
Lots of little tidbits this morning for your amusement and edification.
|By: David Dayen Tuesday August 28, 2012 1:00 pm|
Try as they might to shift to the economy, something always gets in the way for the Romney campaign. In this case, it’s the actions of Mitt Romney throughout his life to wall off his fortune from the Internal Revenue Service and ensure a continuing Romney aristocracy for the next generation.
|By: David Dayen Thursday August 23, 2012 1:29 pm|
Gawker just dumped 950 pages of internal documents, mostly internal audited financial statements, from 20 funds tied to Bain Capital, investment vehicles for Mitt Romney, which they claim “reveal the mind-numbing, maze-like, and deeply opaque complexity with which Romney has handled his wealth, the exotic tax-avoidance schemes available only to the preposterously wealthy that benefit him, the unlikely (for a right-wing religious Mormon) places that his money has ended up, and the deeply hypocritical distance between his own criticisms of Obama’s fiscal approach and his money managers’ embrace of those same policies.”
The documents are quite jargon-heavy, and much of the information in the document dump that’s been revealed so far consist of reiteration or extended details of information that has already been revealed about tax-dodging schemes. So I’m not totally sure that we’re going to get so much out of these Bain documents, at least not right away. They add some color to the well-known fact that Romney, like many rich people, goes to great lengths to shelter his money from taxation.
However, we did learn something pretty valuable about Mitt Romney’s tax situation today. Romney doesn’t want to make his tithing public.
|By: Jon Walker Friday August 17, 2012 9:44 am|
Now that Mitt Romney is claiming he paid at least 13 percent in taxes ever year but still refusing to release more returns, it has given the Obama campaign an opening to keep up pressure on.
|By: Jon Walker Thursday August 16, 2012 6:30 pm|
Mitt Romney clearly wants the issue of his tax returns to go away. At the same time he adamantly refuses to do the one thing that would make the issue go away: release more returns. So Romney’s newest strange attempt to get the media to drop the issue without him actually providing any real transparency is to claim he has looked at his tax returns for us and we should take his word that he paid at least 13 percent in taxes every year.
|By: David Dayen Thursday August 16, 2012 2:08 pm|
Mitt Romney showed a little leg on the question of his tax returns today, responding to reporters by saying that he has never paid less than 13% in taxes.