Romney Refuses Obama Deal on Tax Returns

by InvestorPlace Staff | August 17, 2012 12:07 pm

investorpoliticsletters2 Romney Refuses Obama Deal on Tax Returns[1]Republican presidential candidate Mitt Romney has refused a deal by President Barack Obama in which the Obama campaign would request no more tax returns from Romney if he released his last five years of returns[2].

Romney’s campaign said Obama’s deal was nothing more than a political ploy. In a response to the offer from Obama’s campaign manager, Jim Messina, Romney’s own campaign manager Matt Rhoades had the following to say:

“It is clear that President Obama wants nothing more than to talk about Governor Romney’s tax returns instead of the issues that matter to voters, like putting Americans back to work, fixing the economy and reining in spending.”

Obama’s offer — and Romney’s refusal — came just a day after the Republican nominee said that he had paid at least a 13% tax rate[3] over the past ten years. Romney’s tax returns became an issue yet again when Senate Majority Leader Harry Reid, D-Nev., claimed that a Bain investor told him Romney had paid no taxes for ten years[4].

Perhaps predictably, Reid responded to Romney’s claim with a simple request: prove it[5]. “We’ll believe it when we see it,” said Reid spokesperson Adam Jentleson. “Until Mitt Romney releases his tax returns, Americans will continue to wonder what he’s hiding.” The Democratic party, Reid included, has been hammering on Romney to release more of his tax returns, pointing out that his father George Romney released 12 years of tax returns[6] when running for the Republican presidential nomination.

– Benjamin Nanamaker, InvestorPlace Money & Politics Editor

The opinions contained in this column are solely those of the writer.

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Endnotes:
  1. [Image]: mailto:letters@investorplace.com
  2. his last five years of returns: http://content.usatoday.com/communities/theoval/post/2012/08/obama-offers-romney-a-deal-on-tax-releases/1#.UC5N2KPN6Sp
  3. 13% tax rate: http://www.ibtimes.com/articles/374485/20120816/romney-tax-reports-taxes-13-irs-presidency.htm
  4. had paid no taxes for ten years: http://www.huffingtonpost.com/2012/07/31/harry-reid-romney-taxes_n_1724027.html
  5. prove it: http://www.politico.com/blogs/on-congress/2012/08/reid-to-romney-on-tax-rate-prove-it-132332.html
  6. George Romney released 12 years of tax returns: http://www.washingtonpost.com/blogs/post-partisan/post/on-tax-returns-mitt-wont-follow-the-leader--his-dad/2012/07/11/gJQAMLy3cW_blog.html

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