Four Pinocchios for Harry Reid’s claim about Mitt Romney’s taxes...
Romney’s 2010 return and his estimated 2011 return do show that he paid substantial taxes in those years. In 2010, he earned nearly $22 million, including $3 million in taxable interest, nearly $5 million in dividends and more than $12 million in capital gains. He reduced his taxes by giving $3 million in charitable contributions (much of it in appreciated stock, when shielded him from paying additional capital gains.)
In other words, this tax return shows a portfolio that is not structured to yield zero taxes. We spoke to a number of tax experts, all of whom said that, given Romney’s current portfolio, it was highly improbable for Romney to have had 10 years with taxfree returns — though there could have been one or two years with little or no taxes. …
But none of this appears to add up to 10 years of tax returns with no taxes paid. “It is theoretically possible, but it seems quite improbable in practice given the portfolio in 2010,” Kleinbard said. “It is improbable that a man of his wealth would have paid no taxes for ten years.”
Reid is a smarmy dirty liar. He has no "source" and only a dimwit would think he does. (calling our resident dimwit... time for Lady Jazzer to chime in)
Romney would be more credible if he released to the American public the same tax returns he released to the McCain campaign to be considered as a VP candidate.
archer wrote: Romney would be more credible if he released to the American public the same tax returns he released to the McCain campaign to be considered as a VP candidate.
Reid would be more credible if he kept his mouth shut.
By the way... I heard that someone we both know has had lesbian sex with underage girls, has given alcohol to minors and runs a porn web site. I had a good source in Az. tell me this.
Politifact - Harry Reid says anonymous source told him Mitt Romney didn't pay taxes for 10 years
Our ruling
Reid has said Romney paid no taxes for 10 years. It was no slip of the tongue. He repeated the claim on at least two more occasions, at one point saying that "the word is out" when in fact it was only Reid who put that "word" out.
Reid has produced no evidence to back up his claim other than attribution to a shadowy anonymous source. Romney has denied the claim, and tax experts back him up, saying that the nature of Romney's investments in Bain make it highly unlikely he would have been able to avoid paying taxes altogether -- especially for 10 years.
Reid has made an extreme claim with nothing solid to back it up. Pants on Fire!
Anyone supporting what Reid has done is no better than the liar himself. If this is what it takes for Democrats to win the election... I think they are in pretty deep kimchi.
Democracy4Sale wrote: They aren't running for president... But if circumstances require it, I'll bet they have less to hide than Mitt-the-Twit.
But when you don't have anything else, deflect....
Mitt did release tax returns. Don't you think the Speaker of the House should be held to the same standards as a Presidential candidate? Do you want Boehner to release his?
Thomas Sowell: There are no solutions, just trade-offs.
