Washington Post carries story this morning about pressure from both sides to have Romney release more tax returns. I don’t think he is going to do it. I think he is going to try to tough it out and claim principled stand that he has shared enough personal information. That would fly better if his father, George Romney, had not staked out the bipartisan ground 40 years ago for transparency by releasing 12 years of returns.
I think the simple truth is ten or twelve years of tax returns is going to show how much money Romney has made and how little tax he has paid in that time period. I think the returns would also undermine his story about himself as a job creator as his personal income would be revealed to be derived from passive investments, job out-sourcing, smart investing, but not from economic activity that has any significant connection to job creation. And there is the problem for the Republicans and the 1%ers. They keep trumpeting about the Job Creators, but if anyone has failed in the current economy it is the job creators. Outsourcing for profit, moving manufacturing industries off shore to areas with low wages and non-existent environmental regulation has been very profitable to the 1%ers, but it has not created or sustained good jobs for Americans, just the opposite. Hence, the big lie: we have to give the job creators more tax breaks if working folks want good jobs. That is simply not the way this thing plays out.
Show us the returns, Mitt.
By Felicia Sonmez and Philip Rucker, Published: July 17
The political pressure on Mitt Romney to release more of his personal income tax returns is causing some divisions inside the GOP presidential candidate’s camp, according to a Republican strategist close to the campaign.
Although some advisers are arguing privately that Romney needs to release additional filings to curb the political fallout, others are resisting that suggestion, reflecting the candidate’s longtime reluctance to publicly disclose information about his personal finances.
Read the whole article? Why not? Read’m and weep.