(Note from Dan: Richard J. Beason, who knows more about taxes than most, weighs in with a fine little rant on why Mitt Romney’s tax returns matter in the context of presidential politics.)
Mitt Romney could have easily avoided paying any U.S. income tax with his offshore companies. That is the loophole Congress continues to allow the wealthy investment bankers. The fact that it is legal to take advantage of this loophole does not make a whole lot of difference to me.
Mitt is running for the leader of our Nation and has been for more than eight years. If he did not have the sense, patriotism, and lack of greed to put his faith in our Nation and stop avoiding paying taxes by using aggressive loopholes then he obviously is a poor politician, leader, and cares nothing about public perception of our tax system.
He simply believes he is above paying taxes and as such tells us all that we too should not pay taxes. Yet we know that does not work and in fact his economic plan will make the middle class pay more taxes while he and his investment bankers pay less. He wants to take away college tuition credits, he wants to take away the mortgage deduction, he wants to take away the medical deduction so seniors in nursing homes pay more taxes.
Mitt shows that he believes only the ultra wealthy should pay no taxes and that the middle class should pay more. That is the point of his taking advantage of tax loopholes for the last ten years.
In spite of running for President during this whole period, Mitt could not bring himself to be a leader and show how he is paying his part of the nation’s taxes. He could have easily brought his businesses back to the US and paid his fair share and shown what a patriot he is. Instead he shows us that wealth has its privileges and the rest of us should just kiss their asses.