Paul L. Caron

Thursday, July 19, 2012

If Only Nixon Could Go To China, Maybe Only Romney Can Do Tax Reform

Wall Street Journal op-ed:  Romney Should Release His Tax Returns, by Joseph J. Thorndike (Tax Analysts):

Mr. Romney would be well advised to simply cough up a decade's worth of returns. In all likelihood, the only thing he's hiding is more of the sophisticated tax avoidance that he's already demonstrated and that rich people engage in every day. Laudable? No. But not illegal, either. ...

Depending on what is in Mr. Romney's unreleased returns, further tax disclosure might be uncomfortable for him or downright deadly. But it won't be nearly as deadly as the weeks of bashing that he can expect from critics if he continues to stonewall on full disclosure. ...

Legally, candidates are entitled to their tax privacy. But politically, privacy is a relic of the past....

And there may be a silver lining to disclosure for Mr. Romney. If he can survive the firestorm of ginned-up outrage that's sure to follow a major release, then a newly inaugurated President Romney might be well positioned to lead the charge for real tax reform. If only an ardent anticommunist like Nixon could go to China, then maybe only a pro-business Republican with lots of experience in legally avoiding taxes can get American taxpayers out of the Caymans.

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Speaking of Richard Nixon -- his healthcare plan was far more radical than either Romneycare and Obamacare. As John Sununu (born in Havana, Cuba) would say: he was not a real American.

Posted by: Bob | Jul 20, 2012 8:24:53 AM

Romney tax returns for Pres. Obama's college transcripts with any and all scholarship applications seems like a fair tradeoff. They should both come together, hug and sing "Kumbaya" and then release them simultaneously.

Posted by: TaxDudeSC | Jul 20, 2012 6:22:19 AM

Just checking back, and what a surprise. Paul just keeps posting this subject to set us off. He's sitting at his computer laughing every time he puts up one of these Romney tax attacks.

So, let's disclose other things, too.

Levin 'Calling On Barack Obama To Release The Names Of The Drug Dealers' He Used

Because Obama won't release a list of his drug dealers, is he still buying from them, is he protecting them, will he claim executive privilege, is he tied into Mexican drug cartels, is he selling dope to kids on the street? "We don't know," because Obama won't release this information.

Top Ten Things Obama Has Not Released

10. State senate papers. 9. Academic transcripts. 8. Book proposal. 7. Medical records. In 2000, and again (briefly) in 2008, GOP presidential candidate Sen. John McCain released thousands of pages of his medical records. Obama, who had abused drugs and continued smoking, merely provided a one-page doctor’s note. 6. Small-dollar donors. 5. The Khalidi tape. 4. The real White House guest list. 3. Countless FOIA requests. 2. Health reform negotiations. 1. Fast and Furious documents.

Might I add, to entertain Paul, that Obama should also reveal his real birth certificate.

Posted by: Woody | Jul 19, 2012 1:40:22 PM