2012 Election | Barack Obama | Harry Reid | Mitt Romney

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Obama Releases Searing New Clip, Returning to Romney's Tax Returns: VIDEO

Mitt_romney

The Obama campaign has put out a new video reminding folks that Mitt Romney is still hiding his tax returns.

Watch the new clip, AFTER THE JUMP...

ReidMeanwhile, in a new interview, Senate Majority Leader Harry Reid says that a Bain investor told him that Romney "didn't pay any taxes for 10 years.":

"Harry, he didn't pay any taxes for 10 years," Reid recounted the person as saying.

"He didn't pay taxes for 10 years! Now, do I know that that's true? Well, I'm not certain," said Reid. "But obviously he can't release those tax returns. How would it look?

"You guys have said his wealth is $250 million," Reid went on. "Not a chance in the world. It's a lot more than that. I mean, you do pretty well if you don't pay taxes for 10 years when you're making millions and millions of dollars."

Andrew Sullivan notes that the claim is most likely BS, but politically-savvy BS, pointing to analysis from finance expert Don Primack:

[Reid's rumor] sounds like something out of a junior-high cafeteria, but then again there’s also an easy way for Romney to knock it down. Which again raises the question: What can possibly be in the returns to make them so dicey to release?

Watch, AFTER THE JUMP...

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Comments

  1. Get 'em, Barack!

    Posted by: Mike | Aug 1, 2012 11:51:42 AM


  2. Harry also said

    "His poor father must be so embarrassed about his son," Reid said,....."

    LOL that there folks is how you disembowel your enemy with a hug/ kindness

    Posted by: say what | Aug 1, 2012 11:54:31 AM


  3. I'm not a political wonk, but now I'm really intrigued about what could possibly be in those returns.

    Posted by: Hector | Aug 1, 2012 11:59:24 AM


  4. Harry Reid nearly lost his Senate seat to a loon, so this is not a shining moment for him, but Romney's overall problem, and it's been a problem for the past year, is that he doesn't seem to want to work for the job. He coasted on hot air during the primary and he's still doing it. It's like he doesn't care about picking up the independent voters. Not a good way to win.

    The tax returns probably show extensive use of offshore accounts and foreign tax havens. Technically, all worldwide income is subject to US income tax if you are a US resident/citizen. However there are plenty of exceptions. There are probably a lot of trusts for the kids and wife and a lot of "investments" that shield income by hiding it as capital. Income tax returns nearly undid the Clintons, so he might be thinking of that.

    Posted by: anon | Aug 1, 2012 12:27:18 PM


  5. The tax returns will show that Romney used every conceivable trick to pay almost no taxes, if not none, in every year possible. The general public would be stunned to learn what is actually possible under US tax law if you have the money. But it's not only how little he paid which will be a scandal. The actual nature of his investments, in out-sourcing jobs from the US, in dirty energy, in polluting industries, in countries who are hostile to the US, in projects which hurt the US, in funding bigotry toward US citizens by donating to hate groups, these investments will show his loyalty is to only himself, the LDS and his money.

    Posted by: RWG | Aug 1, 2012 12:28:31 PM


  6. I love what Reid is doing. Finally using a dirty tactic that the right has mastered against them! Prove you're not from Kenya! Prove you're not a muslim! Well, now is your turn. Prove you pay income taxes.

    Posted by: cindy | Aug 1, 2012 12:40:28 PM


  7. @ anon

    angle 44.6 reid 50.2 Reid +5.6

    for reid that is closer than any challanger has ever come BUT it is in no way came close to loosing....everywhere else 5.6% margin is HUGE

    Posted by: say what | Aug 1, 2012 12:53:24 PM


  8. Sully would be right, but Reid doesn't really play that way. That gives him quite a lot of credibility. Either way, if it turns out Romney paid under 10% at any time, he's toast. We've had lots of rich guys run, and they all paid taxes without a bunch of trickery.

    Posted by: ChristopherM | Aug 1, 2012 1:21:46 PM


  9. @ chris yepp

    LO last night talked about how cheney always paid around the 35% mark because

    1- cheney knew better than romney that if you have future plans in politics ....don't take the loop holes

    2- cheney is all about the POWER vs $ where as romney is all about the $ and his ego

    Posted by: say what | Aug 1, 2012 1:24:23 PM


  10. Romney - or Rmoney - is a smart, sophisticated money guy. Like my friends who are fund managers and investment advisors, he knows how to minimize his tax liability. That's what his tax returns are going to show.

    While the public is not going to care about the tax regulation details, what will register is 1) that he paid a lower tax rate than most people and 2) that the rich play by a different set of rules. He will lose much of his ability to connect to the middle class.

    By withholding the tax information, he is damaging his reputation for honesty and integrity. The longer he waits and the more that he dodges and weaves, the worse it will get.

    His staff has undoubtedly done the testing on this. Which is worse, to be seen as rich or to be seen as evasive. They decided that evasive is better.

    With my long experience in politics, I disagree. The worst thing is to cover up. It's the mistake that Clinton made. It's better to confess a mistake and apologize than to hide the truth.

    If Romney continues in this way, you will begin to see the numbers for "Which candidate do you trust?" shift decisively to Obama. And if you don't trust a candidate, then you don't believe anything he says - even his policies to fix the economy.

    It's simply a matter of time before Romney releases his returns. He is simply delaying the inevitable.

    Posted by: gr8guyca | Aug 1, 2012 2:31:29 PM


  11. I think rwg is spot on with those observations.

    I think Romney ( and his wife and family )are entitled elitists that think the rules don't apply to them and they can do as they please with regard to "you people" to quote Ann Romney in that interview with ABC

    Posted by: NwYrkr | Aug 1, 2012 2:36:36 PM


  12. It would be interesting if it was found out that Romney didn't pay any tax..he'd be right up there with Al Capone. Also, given his penchant for having the government pay for every project he's attached to (Say, oh, the Olympics) and then deriding anyone who is on welfare, social security or any other government subsidy (other than Agricorps, banks, or Auto manufacturers). We inherently knew he was a morally corrupt individual; but it would be nice to finally have something to validate that feeling.

    Posted by: woodroad34 | Aug 1, 2012 2:39:45 PM


  13. T-O-A-S-T

    Posted by: David R. | Aug 1, 2012 3:15:50 PM


  14. I have to wonder if Obama has seen Romney's tax returns and knows exactly what's in them - after all, they're on file with the IRS. I have a hard time imagining that Obama would press this so hard and risk having the returns show nothing damaging.

    Posted by: Prof Sancho Panza | Aug 1, 2012 3:19:47 PM


  15. @ prof

    that would be illegal, but a mistreated tax accountant could have let the info slip out while obama said "You aren't supposed to be telling me about that" and the ss escorts the guy out slower than a snail while he keeps spilling details

    Heck, we know they don't treat people in their own economic circle well so the "help" = at least 1 tax accountant has felt the burn from them

    it has been reported that mitt once said to a multimillionaire woman who had recently had a miscarriage "buck up, you could be like her" pointing to another multimillionaire woman suffering from cancer

    Posted by: say what | Aug 1, 2012 3:35:30 PM


  16. PS

    heck, mitt the twit probably bragged about it in the mormon temple 1 day

    that is how reid found out

    Posted by: say what | Aug 1, 2012 3:40:56 PM


  17. If not paying taxes is bad, why does Obama keep nominating tax cheats to his administration?

    three dozen Obama executive advisers and aides owe hundreds of thousands of dollars in back taxes - and federal workers as a whole owe the IRS $3.4 billion in unpaid taxes.

    A new report just out from the Internal Revenue Service reveals that 36 of President Obama's executive office staff owe the country $833,970 in back taxes. These people working for Mr. Fair Share apparently haven't paid any share, let alone their fair share.

    Posted by: Inside | Aug 1, 2012 4:12:14 PM


  18. @ INSIDE: a link please. Can you prove you weren't born in Kenya?

    Posted by: David R. | Aug 1, 2012 4:14:20 PM


  19. The thing which is going to sink Obama is the new ruling from the corrupt, evil Supreme Court that now allows limitless amount of money to be raised for a candidate. This is the first election the new rule will affect. Big money companies can outraise the Democrats every time - they control 99% of the wealth. This is why the Supreme Court needs to be scrapped - their corruption and incompetence has now meant the US is no longer a democracy. If all we are doing now is BUYING the White House then we are not a democracy.

    It's time to scrap the Supreme Court and redesign the whole judicial system. It is corrupt and biased.

    Posted by: Icebloo | Aug 1, 2012 4:58:27 PM


  20. Is there any doubt that a Romney administration would favor the rich and increase the income gap in our country? Mitt is a pariah in Mormon Clothing and will stop at nothing to expand an empire of greed for the rich in this country. Can his sacred Mormon underwear gain him enough donations to buy this election? See for yourself as Mitt dons his tighty-whities from the Good Lord Himself at http://dregstudiosart.blogspot.com/2012/05/mitt-romneys-magic-mormon-underwear.html

    Posted by: Brandt Hardin | Aug 1, 2012 5:32:22 PM


  21. Mitt Moneybags is such a complete fake.

    Posted by: jaragon | Aug 1, 2012 5:43:27 PM


  22. Do we really give a flying doughnut about Mitt's income and taxes? Why do we have to dwell on the fact that he apparently was smarter than Obama and made more money. In this case I would just ask: Who would you rather screw? A poor boy, or a rich daddy! Any further questions?

    Posted by: LauraLoonie | Aug 1, 2012 8:10:55 PM


  23. LauraLoonie, your name should be shortened to just Loonie.
    Romney was born into a rich connected family and used his connections to amass more money by leveraging up home grown American businesses, shipping their jobs overseas and selling off the pieces and apparently has paid little if anything in taxes; and shirked his duty in Vietnam via 4 deferments on religious grounds so he could do his proselytizing in France of all places, a real hardship.
    Obama was raised by a single working parent, public schools and scholarships, and oh yeah he watched his mother die from cancer while fightig with insurance companies for proper treatment; and oh yeah Obama was successful at I believe it was Sidley & Austin a major internatinal law firm, very white shoe and not prone to any affirmative action hiring and he did it on his own brains and personality.
    I'll go with Obama and not that condescending p.os. Romney

    Posted by: AgnesGooch | Aug 1, 2012 8:32:51 PM


  24. Obama tried, he failed, it's over, time to move on! He's was pegged a one-timer the day he was elected and has proven to be unsuccessful. If he worked for me, he would have been fired after year one. He;s ineffective, incompetent, and pretty much a lame duck. How's that for Loonie!

    Posted by: LauraLoonie | Aug 1, 2012 8:36:42 PM


  25. markus = lauraloonie?

    U be the judge

    polls sure are showing the opposite of markus/lauraloonies world view

    Posted by: say what | Aug 1, 2012 9:06:41 PM


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