This is killing me!! DU -- Just what do you think is in those tax returns???

[CatWoman]

It's got to be something juicy.

It just has to be!!!

[Hassin Bin Sober]

1. Amnesty from Swiss Bank Account felony tax evasion is my guess.

Legally paying zero taxes would be bad, but not has bad as holding out. In fact, I suspect legally avoiding paying ANY taxes might give him a boost with his idiot followers.

[Lil Missy]

2. ditto

[lonestarnot]

3. double ditto

[lonestarnot]

5. zero income tax, there is a difference.

[Hassin Bin Sober]

9. Duly noted.

Especially since they are trying to play weasel-words with taxes versus income taxes.

[rocktivity]

66. See post #61.

http://www.democraticunderground.com/10021140990#post61


rocktivity

[MrScorpio]

8. Yep, I think you have a winner nt

[kestrel91316]

24. dingdingdingdingding!

[xxqqqzme]

35. Yep. Larry O'Donnell

did a great segment covering that very thing tonight. Also pointing out queen ann and Rmoney are very careful to say they pay taxes, never 'income' taxes.

[Amonester]

36. Yep. He'd be their tax-dodging 'uhmeyeekan' hero official.

They would worship him 'til his latter day come.

I'm sure Ann-toilette and him would LOVE the highs in their primitive neurones.

Maybe that hormonic would help them cope with their upcomming broken dreams starting Nov. 8.

[LaydeeBug]

46. I think so too! Which is why I am perplexed that he hasn't released them. nt

[Spazito]

48. Yep, I agree...

that's my take as well. He took advantage of the amnesty on tax evasion.

[highplainsdem]

50. I agree.

[Bluenorthwest]

55. Yep. And taking a tax amnesty, like taking a Presidential pardon, requires and admission of

guilt. This is also why the one year he has shown is not complete, the amnesty filing has to be noted the following year.

[denverbill]

57. +1

[1-Old-Man]

58. That is simply absurd. You do not find the felony in what they file, just the opposite.

There won't be anything illegal to be found in what Romney files, if any illegal activity exists it will be in what is not filed. What Romney fears is clear, the man has paid little to no taxes on years worth of very large incomes. His tax returns will show the sort of privilege that a bevy of tax accountants on the payroll can buy, and that is what must be kept hidden from all of us who dutifully dole out a relatively larger portion of our hard earned money every year.

[Hassin Bin Sober]

65. There was an amnesty offered by the IRS in 2009.

One of the main targets of the the amnesty was Swiss bank accounts (Romney has Swiss accounts). This particular amnesty was driven mostly by the Swiss Government's agreement to release names of US tax cheats hiding money in Switzerland - an, until now, unprecedented breach of the tax cheats' "privacy." This resulted in tax cheats scurrying to their accountants and tax attorneys in record numbers.

To be eligible to avoid FELONY CRIMINAL CHARGES, Romney would first have to ADMIT in his amended returns he committed FELONY CRIMINAL TAX EVASION and then amend his returns accordingly.

That UN-PROSECUTED illegal behavior would be all over his 2009, 2008, 2007 etc. amended returns LIKE A RASH.

Romney was running for office in 2007 and 2008. That gave him plenty of time to pay and file taxes on his normal US income based on what he had to know would be scrutiny of his tax returns. He had plenty of time to structure his returns to show a "respectable" 13 or 14 percent effective tax rate for himself (like he did in 2010).

What Romney WOULDN'T have been able to foresee, or plan for, would be the Swiss Government's agreement to release names of tax cheats and the subsequent US amnesty program offered.

In other words, the "rules" of his game changed SUBSTANTIALLY and inconveniently while he was gaming the system.

I, and many others, believe paying ZERO taxes wouldn't even be result in the liability he is/will be facing for non-disclosure. In fact, as I stated up-thread, paying no taxes might garner him support among his most loony followers (see: Paul Ryan fans).

If his only problem is he didn't pay enough taxes, he could end the story in a couple days (a week?) by releasing his returns and explaining how it is "fair" and legal for a businessman to to take advantage of all available tax laws and loopholes.

If he committed and admitted to felony tax evasion he is DONE. And he knows it.

October 13 2009

Deadline looms for Americans to disclose accounts in foreign tax havens

http://articles.latimes.com/2009/oct/13/business/fi-swiss13

Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for failing to report those accounts. Tax attorneys have been besieged by wealthy clients who are lining up to apply.



Wealthy U.S. taxpayers, concerned about an Internal Revenue Service crackdown on the use of secret overseas bank accounts as tax havens, are rushing to meet a Thursday deadline to disclose those accounts or face possible criminal prosecution.

The concern was triggered this summer when Switzerland's largest bank, caught up in an international tax evasion dispute, said it would disclose the names of more than 4,000 of its U.S. account holders.


The decision shattered a long-held belief that Swiss banks would guard the identities of its American customers as carefully as they did their money, and it raised concern that other international tax havens might be next.

Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for having failed to report their overseas accounts. As a result, tax attorneys across the nation have been besieged by wealthy clients who are lining up to apply even though they will still face big financial penalties.

[spanone]

4. i think he generously gave check after check to planned parenthood

[AtomicKitten]

6. I believe that not only did he pay $0 taxes, but he got huge refund.

[Historic NY]

12. That would be the coup de main...

he could never recover from.

[randr]

7. He has made out like a bandit under Obama's administration

So much for the economy is in the tank!
Also proof of huge profits in outsourcing American jobs.

[avaistheone1]

28. I hadn't thought about that. Good points.

[PD Turk]

10. Vindication

Vindication of what us "leftys" have been saying about the rich not paying shit in taxes all along

[jmowreader]

11. He deducted the dents the dog crate made in his car roof

Okay, all kidding aside, this is the problem: Romney and Ryan are running on the need to eliminate the "loopholes" from the internal revenue code because "rich people hiding behind all these loopholes" are supposedly the problem in the system. If he releases his tax returns, Joe and Jane Citizen are going to find out there's not a loophole Romney hasn't used at least once a year.

If loopholes are the problem, releasing tax returns so reliant on them will do nothing but give the problem a name, and that name is Mitt W. Romney.

[FlyinButter]

13. I think that you're on to something. n/t

[lonestarnot]

15. Then there's that. Fifi tried to charge the TB folks for having TB, mentally retarded a fee for

being mentally retarded and another fee to the blind for being blind.

[kentuck]

14. Would it be an impeachable offense...?

If he were to win the Presidency and then we found out there was income tax evasion and a felony within his tax returns? Would he then argue that the statute of limitations had run out and you should have caught that before he became President because, as Richard Nixon said, "if the President does it, it's not illegal..."

[onehandle]

16. Zero taxes paid for ten years. Ann confirmed it.

Think about that when you look at your next pay stub.

[HubertHeaver]

17. Investment strategies, evidence of

insider trading. Either by Mitt himself or by Bain or a Bain holding.

[subterranean]

18. His refusal to release them only adds fuel to the fire.

It leads people to assume he has something to hide that would be fatal to his campaign.

[On the Road]

19. I Kind of Doubt There's a Smoking Gun --

certainly nothing ilegal that would be evident from the returns themselves. Probably more like the year he released -- lots of legal tax avoidance.

But he really, really should have released them, though, because people are going to keep wondering right up until election day.

[MADem]

21. It doesn't have to be "illegal" to be blatantly hypocritical and "un-American" if you're running for

the Presidency.

[MADem]

20. An effective tax rate of ZERO for more years than not, and amnesty from his shady Swiss stashes.

He could also have investments in businesses that are even more troubling than the "Fetus-B-Gone" Medical Waste Company...maybe casinos, booze, prostitution (legal, of course), porn, all sorts of "not family values" shit....and money stashed in companies that offshore jobs on steroids.

Annie ain't talking about getting her gun when she whines about "ammunition." The ammo is in the tax returns, and it's gotta be some good shit.

[Angry Dragon]

22. I believe within the foreign bank accounts

there is evidence of drug money
and possible sex slave money

[Lone_Star_Dem]

23. A whole lot of super rich people's tax loopholes.

That's what I'm expecting to see there.

Like every super rich loophole in the most elite accounting firms arsenal.

[Samantha]

25. I think he took "special" advantage of the carried over interest provision passed by Bush*

to benefit his campaign donors (you know, the job creators). Some investors have argued profit from investments do not wash in immediately but over time. So they have pushed the envelope to the limit and in some cases kept delaying paying their investment tax on certain investments for as long as ten years. During that time, I am betting they probably moved those investment profits offshore, and that is the group now petitioning to bring the money home if the IRS won't tax it at a rate higher than 5%. A tax payer that pulled that type of stunt who had minimal traditional income, as opposed to investment profits, could have paid next to nothing to the IRS.

That is my bet.

Sam

[napi21]

26. Lots of possibilities. Lack of 10% to the Mormon Church (after having bragged about doing so.)

The majority of his money sheltered away in the Cayman Islands or a Swiss bank account. VERY LOW % of income tax paid due to utilizing those foreign accounts. And I suppose there could also be proof of contributions to charities the RW wouldn't approve of.

There MZUST be something serious thougfh, because I understand there was the same battle over releasing his tax returns when he ran for Governor (which he never did).

[rocktivity]

27. Either it's something that would NEVER allow Mitt to stay in the race (never mind get elected)

or the returns are clean but he's such a passive-aggressive wimp, he thinks he can win by not fighting.




rocktivity

[oldhippie]

60. That pic makes no sense ......

The general term "taxes" includes the more specific "income taxes". Let's not make it so easy for them to ridicule us. C'mon guys, let's think before we post something like that. We have a language. Words matter.

[rocktivity]

61. That pic makes PLENTY of sense to THEM, my friend. And "we people" had better keep asking why.

Last edited Sat Dec 28, 2013, 12:40 PM - Edit history (7)

Laurence O'Donnell thinks so, too.

Remember how Bush II kept insisting that "We do not torture" -- and it turned out that he was outsourcing it?

Neither Mitt nor Ann have used the words "income tax" even ONCE. That is no accident of "language."


rocktivity

[Vogon_Glory]

29. Lots of carried-over losses so Mitt-sie could balance income and also off-shore accounts n/t

[Firebrand Gary]

30. Not only did he not pay taxes, he made money off the government. nt

[Skittles]

31. simply put: proof that the 1% don't pay their fair share

absolute fucking proof

[silvershadow]

32. Felony evasion of taxes, settled thru amnesty. ;)

[joshcryer]

33. Nice. Wonder if the Obama camp would know about it.

Something like that would be hard to keep a secret even with privacy laws (someone working on the case, etc).

[silvershadow]

34. I have no idea, though I can't imagine

that they don't know something. This race is gonna be interesting, that's for sure. Somebody knows. McCain for one, if he's looked real good (assuming everything was revealed).

[joshcryer]

37. Hope you're right. It's my favorite theory so far.

Was just now reading about the IRS amnesty program. Very interesting indeed.

Would be epic if that's what happened.

[silvershadow]

39. It would be epic indeed. I'm trying for figure out now how

we can wrestle this story out. It will have to be wrested from them, that's for sure. Mrs. Romney had her heels dug in today, refusing to talk any more about it. Case closed. I don't see it lasting thru the election. If something doesn't break open before the convention, I, for one, will be disappointed. I want Tampa to be total chaos.

[Hassin Bin Sober]

67. Amnesty happened in 2009 so I don't think McCain would know about that piece of the puzzle.

[Hassin Bin Sober]

68. They may or may not know about it (through official channels) ...

.... but they can't touch it with a 10 foot pole. Remember: Obama's passport records.

There will be flags and trip wires all over those files.

[Kalidurga]

38. No.1 guess. Is it is the amnesty thing. That is absolute dynamite to his campaign.

It might not keep the anybody but Obama crowd from voting for him. It might not keep the extreme righties from voting for him. But, it will absolutely peel the undecideds and independents away from him. It would probably cause a lot of Republicans to stay home. This would cause the biggest landslide for Obama and probably the biggest landslide in history. I don't think Mitt could win Texas if that came out.

[TomClash]

40. Insider trading

Circa 2008 and 2009. That is why he only released two years, 2010 and 2011.

While everyone's 401k collapsed, he probably shorted and made money because he knew what was coming.

[silvershadow]

41. Wouldn't surprise me in the least. It's probably both.

[Gothmog]

42. Foriegn blocker corps

The only way to get an IRA to grow to $100 million involves some games that would have generated some UBIT which would have been taxable at ordinary income tax rates. The way to get around UBIT is to use a foreign blocker corp. You seen hints of this in the 2010 returns but the other returns would confirm the use of this tax shelter.

[davidpdx]

43. I could tell you

but then I'd have to kill you

[myrna minx]

44. I'd like to add, if, as she claims, that for the past 10 years their investments are locked in a

blind trust and they don't know what their investments are specifically, how does she know there would be any "ammunition" for criticism? I think deductive logic can bring us the answer. Or maybe not, since their such pathalogical liars.

[ThoughtCriminal]

45. Maybe every theory is true

Swiss bank amnesty, little of zero tax in other years, lies to the SEC, lies to business partners, odd donations, lies about residency for voting and running for office, business connections with criminals...

I think that he would flee the country and have to fight extradition if they ever were revealed.

[Courtesy Flush]

47. I think his taxes are clean

He can afford the best attorneys and tax prepares. I doubt there's anything illegal there.

My theory: He's not hiding his taxes from the Democrats. He's hiding them from the Tea Party. They'd lived by the mantra that the "job creators" are over-taxed. Romney doesn't want them to learn that the rich have been lying about what they pay, and are indeed under-taxed.

[dembotoz]

49. extent of foreign holdings--was struck by a statement by exxon that because it has so much foreign

holdings it was now not so much an american company but a company with its own foreign policy that
it was actively pursuing.
at times this policy would agree with american policy and at times would be in opposition.

perhaps some investments in places he would not like to admit to.

anticipate--china, russia and perhaps iran?

[JoePhilly]

51. Devalued stock prices of Bain takeovers, moved those into his IRA, and then inflated the stock price

[hobbit709]

52. Obviously something they don't want us to know about.

[Bobbie Jo]

53. That's just it....

Refusing to release them leaves this matter open to very damning speculation. His continued refusal just confirms that releasing them at this point would be even more damaging.

This is a lose/lose any which way it goes down.

Poor Mitt.

[matt819]

54. My guess

He's a billionaire.

He has paid no U.S. federal income taxes.

And there are far more foreign accounts than has been alluded to.

[Bluenorthwest]

56. Fruad and criminality, as well as short changing their beloved LDS.....

[lies and propaganda]

59. He Doesn't Tithe

That is FAR WORSE than bank accounts or non payments of taxes. To his people, anyway.

[rrneck]

62. Nothing.

Nothing illegal anyway. He'd rather take the heat from withholding them than the truth of how the tax code has been rewritten to his advantage.

[ProSense]

63. Payments to his other wives.

Another "low blow."




Ann Romney is an Angry White Woman - Caught Lying To NBC
http://www.dailykos.com/story/2012/08/16/1120677/-Ann-Romney-is-an-Angry-White-Woman-Caught-Lying-To-NBC

"You people," she's an angry rich woman.

[swayne]

64. WHY WON'T ANYONE IN THE MEDIA ASK THE QUESTION ABOUT THE TAX AMNESTY?

Since he won't release the taxes, they should at least ask question that make sense and get the answers on the record. How hard can that be?

[LanternWaste]

69. I think the (eventual) disclosure will reveal nothing illegal, yet advertise such an excessive amoun

I think the (eventual) disclosure will reveal nothing illegal, yet advertise such an excessive amount of money as to tilt public perception within the independents against him.

If he is as wealthy as is speculated, it would be no problem at all to hit him as "a man of the money, for the money, and by the money...", out of touch with the Common Man, and further cement the perception of his inability to empathize with Main Street.