Romney Tax Returns & Finances Released- Lefty Smoke & Mirrors
Romney’s personal financial status is available via his website. In short, the Romney’s (estimated) 2011 return shows total income of $20,901,075 with a tax liability of $3,226,623. Their 2010 return shows total income of $21,646,507 with a tax liability of $3,009,766. Additional trust returns and Federal/State Financial Disclosures dating back to 2002 are also there for all to see.
Nevertheless, the left continue to complain that the Romneys have not released ALL their actual federal tax returns. So what? Such disclosure is not required by law (nor is releasing college transcripts but we’ll explore that another day?). Note these returns are actually in federal hands, to wit; our “friends” at the Internal Revenue Service. Has the IRS raised any red flags regarding the Romney’s tax returns? Nope.
So, the inquisitive mind must ask, why are Obama supporters insisting on seeing the actual Romney Federal 1040 Returns? The cynical blogger that I am can see only one reason; Obama supporters want to use the Romney’s returns to muddy the election waters by pointing out all the “loopholes*” (that’s would be their terminology) the Romneys used to calculate the income taxes they owed the IRS.
Thus, instead of talking about President Obama’s bleak, dismal, horrifying (I gotta get a thesaurus!) record in office, they would disingenuously use the Tax Code as well as lefty smoke and mirrors to oppose Governor Romney’s bid to get our once-great country back on track. Don’t let the Obama campaign con the uninformed portions of the electorate. Instead of arguing the point when someone raises the Romney income tax issue, send them this article. End of story!
*Loophole- “In taxation, a provision in the tax code by which a taxpayer may LEGALLY avoid or reduce his income taxes.” Black’s Law Dictionary, 6th Edition [emphasis added]