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Romney: What else is he hiding?

I’m too tired to read beyond the Newser summary, and I probably wouldn’t understand the original Vanity Fair article even after two or three readings, but it looks like Mitt Romney has been much less than forthcoming about his finances. Mind you, he might be following the letter of the law, but I expect more than that from a presidential candidate. I expect full disclosure in a timely manner, observing the spirit of the law. No hemming and hawing, foot-dragging, etc. A candidate for president should be candid, fully transparent. Even if he isn’t legally required to be. He should not hide anything or appear to be hiding or withholding anything. Deviousness and “gray areas” may be acceptable in private life; they are not acceptable in a would-be president.

7 Comments »

  1. Really big money buys many things that average middle class citizens don’t have…. like tax rates on “income” that are much lower than those who receive most income based on a job W-2, IRA or pension. They also pay little in Social Security taxes, because they accrue income from gains, dividends, and carried interest, and even if they did pay the tax, the $110K ceiling would be relative chickenfeed. Yet they benefit big time from Social Security because the surplus cash flow from the Trust has been used for years to fund tax cuts and wars and to supplement the general fund. The economies of scale from high income allow special trusts and off-shore arrangements to be established that bypass taxes. Most importantly they are often unaccountable because their wealth buys influence and immunity from the serving of justice, as we’ve seen occur when the nation is robbed of trillions by Wall St.. The problem of increasing inequality could be alleviated if all income and compensation, regardless of source, would be taxed equally and progressively.

    • Absolutely! Allowing the wealthy any tax dodges that result in their paying less in taxes than, say, their secretaries or cleaning crews, is immoral. I’m not sure a progressive tax that penalizes them for being rich is fair, but at the very least they should pay taxes on all forms of income at the same rates as everyone else. After all, what’s it going to cost them, a new car elevator at their sixth home?

“Violence is the last refuge of the incompetent.” ― Isaac Asimov

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