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With President Obama's and Vice President Biden's 2011 tax returns now posted online, the Obama campaign is calling on Mitt Romney to release his -- as well as those going back several years.
“Mitt Romney’s defiance of decades of precedent set by presidential candidates on both sides of the aisle, including his own father, begs the question -- what does he have to hide?" Obama Campaign Manager Jim Messina asked in a statement. "Did he exploit loopholes in the tax code by keeping his investments offshore and is that why he’s protecting those loopholes now? Why did he open a Swiss bank account instead of an American bank account and establish a corporation in Bermuda instead of on our shores? Did he pay a lower income tax rate than the 13.9 percent he paid in 2010 and is that why he opposes the Buffett Rule to ensure millionaires don’t pay less taxes than middle-class families?”
Files / AFP - Getty Images
With President Obama's and Vice President Biden's 2011 tax returns now posted online, the Obama campaign is calling on Mitt Romney to release his.
Earlier this year, Romney released his 2010 tax returns, which showed he paid an effective tax rate of 13.9%, as well as an estimate of his 2011 returns.
According to Obama's 2011 returns, he paid an effective tax rate of about 20%, and Biden paid about 23%.
*** UPDATE *** Romney spokeswoman Andrea Saul replies, "It’s no surprise with the worst job creation record in modern history that President Obama would try to distract Americans from the real issues with a series of sideshows. Gov. Romney has already released his 2010 return and an estimate of his 2011 income and taxes. He will release his full 2011 return when it is filed."
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For various reasons I am not particularly fond of either president Obama or Romney, however, it is very clear this presidential campaign is between a mainstreet-vs- Wallstreet candidate...........
In such a case, I will have to go with mainstreet, unless Ron Paul is in the mix, then I will vote to shake the entire political system up and start all over from scratch........
The options we have now are nothing more than two sides of the same coin !!
Ellis - who are you saying is main street? The article in MSNBC showed that President Obama had an income of $789,674. I know that is not main street in my part of town.
The only trickle down you'll get from a wealthy businessman is a low paying job.
Obama's got my vote again..
That fact that Obama has hired ZERO in the PRIVATE sector, your vote for Obama only means you want the US to remain at high unemployment.
KURT: Not really sure what the hell your point is. I'd suggest checking the amount of jobs being created under Dubya in the last year or two of his administration and then compare them to the current numbers.
Guys like you remind me of the Republicans in the 1930's who after a dozen years of GOP domination had entirely wrecked our economy and then had the gaul to bitch about FDR not cleaning up their disaster fast enough. Then, as now, that's what you're party's good for. We've tried ten years (actually 30 if you count the Gipper) of giving welfare to the uber rich and all the "trickle down" nonsense the the Right holds so dear, and what has it gotten us?
We hemmoraged money like it was going out of style under Bush and then 15 minutes after Obama is sworn in the Right has an epiphany and decides that now, we need to balanc the budget. Now, not the last 8 years when the Right ran the show and couldn't piss money away fast enough. What convenient timing.
The fact is when Bush left office, unemployment was at 7.8%. 3 years into Obama, we are still OVER 8% and that is AFTER his Trillion in "Stimulus" spending. By this time during Reagan's first term, we had a robust fast growing economy and unemployment of UNDER 5% after the OVER 10% unemployment of the Carter years. Just wish for the good old days before Obama during Bush when the US actually had under 8% unemployment
Kurt: And Reagan raised taxes too. No wonder the economy was booming.
Toyota - so you conclude that to get the economy to grow we need to raise taxes? If yes, please explain how that works.
Ozzie Boy:
From the bureau of labor statistics, the historical national unemployment rate. I specify the range (high and low, not the direction of change)
in 2001 between 4.2 - 5.7, in September of this year we were attacked by AlQaeda
in 2002 between 5.7 - 6.0,
in 2003 between 5.8 - 6.3,
in 2004 between 5.4 - 5.8,
in 2005 between 4.9 - 5.4,
in 2006 between 4.4 - 4.8,
in 2007 between 4.4 - 5.0,
in 2008 between 4.9 - 7.3. this year the mortgage industry meltdown and the financial crisis began Those were the Bush years.
Now Obama in 2009 between 7.8 - 10.1,
in 2010 between 9.4 - 9.8,
in 2011 between 8.6 - 9.2
.in 2012 8.3, and now 8.2
Low paying jobs? You mean like the ones Obama has created?
Proud hispanic-don't know where you went to school but the numbers do work.The vast majority of Romney's charitable contributions went to the church to repay them for everything that they have done for him.
Obama made $789,674. 22% of that is $173,728. Your math is wrong.
In my mind Obama's cause is more worthy than Romney's, but that's probably because I'm not Mormon. But believe it or not, the LDS Church does a lot of good in their communities, so who am I to judge?
Point is, Romney donated $7M of his money. So your original point is moot.
This is to divert attention from the real issues.
www.usdebtclock.org
Out of control spending is a real issue.
oh no, to mention about the Spendaholics is so politcally incorrect, SHHHHH
Yea, out of control spending, huge problem.
Where the hell were you two geniuses what Dubya was pissing away countless billioins in Iraq???
Oh that's right, I had forgotten, the Iraq oil production will pay for the war.
"The war will only cost 40 Billion"
"We'll be greeted as liberators"
"Tax cuts will cause a "trickle down" and everyone will benefit".
Oh, and perhaps you can try to chase down the BILLIONS IN CASH, that simply disappeared in Iraq. My suggestion, try Haliburton, that wonderful company that constructed showers that electrocuted a number of serviceman.
So, per your logic, the OVER Trillion $ annual budget (A LOT MORE then Bush) is Solely due to his war on Libya? Try that 100% failure of the over $1 trillion stimilus is and was far more costly. Despite, Bush being a Big Government Republican, his spending was far short of the deficit of the current Spendaholic Obama.
KURT: FYI fella, ONE THIRD of the stimulus was in the form of TAX CUTS. Isn't that the god that the Right worships?
Any economist (yes, even conservative ones) have acknowledged that the stimulus worked and helped stave off a catastrophic disaster. On top of that, let's not forget that it was Dubya who started pumping money in the banks, etc. Only problem was, unlike Obama, he gave them the money with not strings attached.
The only problem with the Stimulus was that it was too small. Obama had originally wanted it to be twice the size but did not think he could get it passed. Check where we were in the months after Obama took office and where we are now. Unless you are a blind ideologue, you will have to acknowledge that there has been real improvement.
Kurt: That is because Bush rolled his debt into Obama's Presidency..Bush didn't pay his bills, he was too busy stealing everybody's money and paying off Bin Laden for 9/11. And if Romney wins in November (he'll have a huge debt load as well). So what.
Ozzie Boy : you are all wrong on the stimulus info. First off Bush was president when they did TARP to rescue financial institutions, and almost all of that money has been repaid with interest. The stimulus bill ($862 billion) was done by Obama administration and went for pet projects, union give aways and every manner of wasteful nothingness you could imagine. There were a few jobs created at ridiculous huge costs. Even Obama admits the so called shovel ready jobs were not there, never existed, period. There were tax cuts and unemployment benefits, but that money is gone and won't be paid back by anyone.
Kurt- The only people that Mitt Romney ever hired were gardeners,maids,butlers,bankers,lawyers,nannies,and chauffeurs for his estates.
If that was "all" that Romney ever hired, that is a whole lot more than Obama in the private sector. But of course, Romney hired a lot more than that while Obama hired ZERO in the PRIVATE sector. Just because Romney is almost as rich as Kerry, does not make him a "bad" guy.
Hating the Rich so much, you must miss those good ole days of Pol Pot's Killing Fields
KURT: The Right has this notion that there is no higher honor than to be a "Job Creator". What a dumb ass name. FYI, Herbet Hoover and Calvin Coolidge ("The business of America is Business") were businessmen, especially Hoover who was one of the big moguls of his day. They brought us a little something called the Great Depression. So much for businessman.
I don't give damn if Romney hired millions, that has nothing to do with running a nation. The hero of your party, Reagan was never a businessman, merely a 3rd rate cowboy actor who made more nauseating films then anyone I can think of.
Kurt, neither I nor any liberals I know "hate the rich".
What we hate our the rich who only care about the other rich and want more, and more and more and keep handing us their trickle down horse@!$%#.
No one was more Patrician and old line money than FDR and no other president in the history of the nation did more for working class people which is why he is rightly considered amongst the giants of American presidents.
Who had more money than the Kennedy's??? And yet JFK, Bobby and most of all Teddy fought the good fight to better the lives of average people. 90% of Hollywood is liberal as well as most of the folks in the music business and I do not resent them in the slightest.
Who did more than the late great Paul Newman, who gave away hundreds of millions and now, even after his passing, his family has carried on the tradition.
Hello, it was FDR, that kept us in the Depression for OVER a decade just like Obama keeping us in the Great Recession for 3 years now. Reagan but this time in his term got long rid of the Recession from Carter
KURT: You merely prove my point. This is the standard Reich Wing talking point. Nor did you address the main points of my post regarding the rich.
YOUR CROWD wrecked the economy and then you have the balls to bitch that FDR didn't fix it fast enough. You folks are masterful at blaming others for your cock ups. And BTW, it was the GOP back then who want FDR to pay off the deficit and he finally went along with it, which then put us in another downward spiral in 1936.
And while we're on the subject, it was the GOP that in the 1930s when Germany & Japan were rearming to the teeth, did not want to spend $100 to arm a rowboat with a machinegun. Now of course, you're the Gung Ho crowd who just can't spend enough money on the Pentagon and Liberals are wimpy, commie traitors. FDR had to use ever tactic under the sun to both up military production as well as support Britain when they were on their knees and on the virge of going under.
Mitt Romney has never ran a business. He ran a corporate chop shop.He would buy a company,borrow as much as he could using the equity in the company as collateral,put the loan in his bank account,fire everyone that was ready to retire, sell their pension plan pocket the proceeds ,sell off anything of value and run the company until it went bankrupt then sell off the shell.That is a corporate raider,a corporate chop shop.That is what Mitt Romney sees in America's future,one more corporate raid,one more chop for the shop.Reagan wasn't even a third rate cowboy he got famous costarring with a chimp,Bonzo.
The Bain Project was Romney's cash cow. Although it only made profits with 35 of 68 companies it loan sharked, he made more than millions. Bain would strike a deal using debt, primarily, and approach companies having trouble making profits. That generally meant that the company being acquired had to borrow huge sums to stay afloat, and there was the Emperor Romany, with his friend's purses open afterwards. This is classic 20th century fiscal irresponsibility: force loans and laugh all the way to the banks for more campaign contributions.
Could the Obama campaign get any more childish? We have a President that, prior to his election, has never created a single job. ...and since his election, certainly not many, at least not in the private sector. What could comparing tax returns, at this point, possibly do, to help create more jobs, or boost this horrific economy. Get a clue Mr. President. We want to hear what your going to do to save our economy and put individuals back to work, not watch whom you're going to point your finger at, next.
Grow up and start acting like a President.
25+ straight months of job growth with President Obama...you won't hear that on Faux news.
DAVE: How many jobs did Dubya create in his miserable 8 years of being in office???
Ozzieboy: Boy were they 8 miserable years....and too think Bush walked into office with a surplus of money...when he left office, he left America in shambles...and President Obama to pay for it...Can't fix 8 years of stupid in 3.5 years.
Obama has not spent 16T in 3.5 years....10T of that was Bush spending but paid for in Obama's years. Some people just don't want to pay attention to what's really happening in Washington DC...maybe they should watch MSNBC more often instead of Faux news, they may just learn something about politics.
TOYOTA: Yes, but friends on the Right appear to be suffering from dementia. It's almost like Bush was never president. They want us all to forget it ever happened.
And yes, a shambles is precisely what he left us with. But again, this is what the Right did during the Depression. They wrecked the economy and then bitched that FDR wasn't fixing their disaster up fast enough. Nothing's changed.
So True- and what's so bad is- if Obama fixes everything in 4 years, and the republicans get back in- in 2016, they'll do it all again, only 20 times worse.
I threw in that last paragragh for the republicons to read and maybe learn something from it...All republicans want to think this debt was caused by President Obama and commen sense says otherwise. Oh yeh repubs don't have commen sense, my bad...
Whatever. He probably has no more to hide than Obama did when he refused to fork over his birth certificate for three years. What was up with that anyway?
Pull up a copy of Obama's birth certificate and stare at it for a long, long, long time...
You seem facinated by it. NEXT !!
M; Still with the birth certificate crap. Are you people frigging nuts or just plain retarded??????????
Do you actually think for one second that if there was the slightest hint that Obama was not a real American citizen that the Republican Party would not have taken this to the Supreme Court and force Obama out of office??? Trying thinking for a change, you're embarrassing yourself.
And Obama did show his birth certificate years ago but it wasn't good enough for you craziy nutcases. So that's when he produced the "long form". But I guess that a$$ wipe Donald Trump still has his "special investigators" in Hawaii digging up the dirt on Obama. You folks are really LOL funny.
lol !!!
Hilary Rosen was right, Mitt's wife has never had to work hard a day in her life. She's had illegal nanny's and maid's for that...
Willard is hiding something. There is no other reason why he has only released 1 tax return.
Real businessmen would have their taxes done by now...what's he hiding-who knows...we all know he only pays about 13% or less in taxes (already)
He's hiding something...
THERM: Of course he is. He showed the latest ones because he's had time to shift his money around. No doubt he doesn't want us to see how many offshore accounts he's got and god knows where else he's stashing all his dough.
Right, Thermen, he's afraid to show that hard work creates success. What in the he!! is wrong with you Far Left doorknobs? Is success bad? If someone makes more money than you, should they give it to you? I thought that was what made our Country great and drew people from around the world. Your "share the wealth" philosophy makes me sick. Just watch, it will backfire on you, in the upcoming election.
DAVE: So part of being "successful" is keeping your money offshore???
You think that's the example that the leader of the nation should be setting????
"Bedtime for Bonzo" was the movie that made Ronald Reagan famous.Dave you are an idiot he was a Law Professor,just so you will know.That means that he taught people how to be lawyers.Now think real hard.That means he taught young people how to practice the legal profession.That has to be a difficult process,for you to think I mean.But,just try to think whether or not being an attorney is a profession and if someone taught young people how do a job then don't they create jobs?
Ah at last someone has brought up the fact that President was a Law Professor. Why doesn't that get Vet-ed like the Dems want to Vet every Republican. I wonder just how well THIS man taught constitutional law. Did he teach that it was a great piece of work and foundation for this great country or did he question it's ability to stand time and need changing. From the way he talks its the latter..... AND THAT IS A PROBLEM.
Lets hear from all these exstudents and just what he taught
DJ: The Right seems to have problems with "Elitist" College professors. I was always brought up to respect and admire those who possessed great knowledge.
But your point is preposterous. How well or how poorly Obama did at teaching has little bearing on his eligibility for the presidency. And if you or the GOP is so desperate to speak with former students, no one is stopping you from tracking them down. My guess is that he was highly regarded. Go and prove me wrong.
For nearly 100 years now it has been customery for a presidential candidate to release his tax returnes. Romney's father released ELEVEN YEARS of tax returns. So what's Willard got to hide??
Non of your response answered the question, what is his REAL opinion of the constitution. And why is MY job to hunt these guys down and not ALL the media. Will never find MSNBC trying to talk to these people. Your worried about Romney's tax returns, well the left has hidden Obama's WHOLE life before being elected senator, what's he got to hide.....
Thermen-I don't know if you read my earlier post or not but Mitt Romney has applied for an extension so he won't have to file his taxes until Oct.15,2012.Do you think he has something to hide or maybe he can't afford H.&R. Block.What do you think?
Lots of people file extensions. That means nothing. As for affording H&R Block, I bet he could buy the company. How cool is that!
Ha ha ha!!! Word is out Obama pays a lower tax rate than his secretary. This is not Fox News reporting this. It is CNN. He's a hypocrite for critisizing Romey. Besides the bottom line of anything should be, did the person pay the tax he was required to pay. Otherwise, stop critisizing Romney you hypocrit Obama!
Romney is a draft dodger, for God's sake. By serving as a missionary for the Mormon Church during the Vietnam War, Romney made sure he would not be drafted from the years 1966 until 1969 (when the war ended, for Romney, and putting self-interest and a whacky religion ahead of public service well past 1975, when the war officially ended). This exemption from service still stands today for Mormons. Romney could have been an Army Missionary, but went as far from danger as he could, to France and ate Freedom Fries while our boys in uniform lost their lives defending their country. Romney believes that war is necessary...for other people to fight. Most draftees in the Vietnam days were from lower-middle class neighborhoods, and enlistees to this day are mostly from the poor of America. As Romney said in 2012, "I'm not worried about the poor." Of course not! He isn't one! He must have been thinking : "Praise the Lord, and let the poor pass the hand grenades for me! And give us more some of those Freedom Fries, Pierre." And he recently endorsed his sons for NOT joining the military! Enough said. He's a conservative? Sure, and my dog speaks Arabic. Woof salaam woof!
Rob: I thought you loved the tax cuts for the rich...well Obama's rich...
Obama's only following the "Bush Error tax rules"....remember those pesky tax cuts for everybody, including the the rich...
Yeh, those pesky tax cuts that Obama's trying to get rid of, yeh the tax cuts that automatically expire on December 31st 2012.
Randy: Romney served his mission trip at the same age as others of his faith. Are you saying that his parents timed his birth so that he would be 19 at just the time when a yet to be fought war would be drafting people?
Your partial quote regarding the poor is typical of the left. What Romney said was that he wasn't worried about they poor because they have a safety net and that if that net needs fixing then he would fix it.
I don't like Romney worth a damn but if the tax loopholes are there it's the U S Governments fault. He would be a damn fool not to use them if he can. Would that make him a better American if he didn't....NO!, that would make him a dumb American. Do I want him for my President....absolutely not, but he's entitled to use tax loopholes.
Legal deductions are not loopholes. They are the law. And you are right, a person would be stupid not to take advantage of what the law allows one to deduct.
We just finished our tax return and you can bet we deducted everything the law allows. I bet all those posting who itemize their tax returns did as well.
Offshore accounts... another case of Romney waffles with voter syrup. Romney endorsed the legalization of RU-486, the abortion-inducing drug, and appeared in June 1994 at a fund-raiser for Planned Parenthood. Ann Romney gave the group $150. During the electoral debates in 2012, Emperor Romany said, "I'm firmly pro-life. I believe in the sanctity of life from the very beginning until the very end." We think he meant to say, "I'll take any position to win votes, then when in office I'll say—oh, well, I tried. Now, where is that off-shore account ledger?" Mission Accomplished!
Hew guys you will compiane next year did you know 30 percent tax for money leaving the us a 20 percent on your home sold after jan 2012 if you dont think this is serious you are crazy Obam and romney need to come clean with Americans and just say it we want everthing you own well no thanks guys see ya there are other places in the world to live
Terry P: The home tax is incorrect. The tax is 3.8% and only applies to profits made over $250,000 for single filers and $500,000 to joint filers.
If the republicons steal this election, I'm taking my nice retirement pension check and moving to the Bahamas...buy me a nice beach condo and chill, while I watch America fall apart from a distance.
For those that don't know, Romney makes about $57,000 per day doing nothing like his wife. More then most make in a year.
Why do you care how much money Romney makes? Did you go to law school, get an MBA, start a company, take the same risks that he did?
If the people in this country vote for Romney, how would he be stealing the election?
Here's a link for your house hunt:
http://bahamas.condo.com/ForSale/Bahamas/New-Providence/Nassau-Condos#view=list&loc=65412
I can find my own real estate, thank you...I'm not dumb like Bush.
What is your obsession with Bush?
I did notice that you didn't answer any of the questions I posed.
USA: Why do you Righties always have such corn ball, Gung Ho screen names? Do you feel compelled to parade your "patriotism" to everyone? Is this an attempt to convince everyone of your patriotism?
I keep posting this but the Right keeps babbling away. To begin with, Willard is hardly a "self made man". He care from heavy money. It enabled him to get the best education in the world and then go out and make lots of money. Good for him. I am concerned with the way he made his money. I'd love to know how many places he shut down and how many people he callously laid off.
Regardless, I hardly think it's good example to set for the possible Commander in Chief to be hiding millions in offshore accounts. Perhaps you have no problem with this kind of behavior but I and many millions of other Americans do.
Lastly, I sure wish the Right would stop with the Canard that Democrats hate the rich and want to destroy them. There are plenty of extremely wealthy Democrats. The difference being, that most of them are not blind to the needs of the average citizen. I always mention FDR and the Kennedy's as examples. No one had bluer blood than FDR and no president ever did more for the average citizen. Romney is oblivious to the plight of the average citizen. And he reveals this everytime he opens his mouth.
"I like to fire people"
"I don't really follow Nascar but I have some friends who own Nascar teams"
"I'm not concerned about the very poor"
"I get money from speaker's fees, but not very much" $375,000
Well let me say this I would vote for anyone over Obama a three year senator with no expierence with a bad aditude and a man that cleally has done nothing for the us in 4 years why give him 4 more to futher hinder the us recovery and let me sat this romney has made his own way so dont down success but if you like failer vote for obama he has lost a lot for americans respect money fure bussinness fure of our grand children
Corrections: Experience, attitude, clearly, further, say this, don't, for, businesses, for...
TERRY: "Bad Attitude"??? What, did Obama dis you?
"Clearly done nothing"? Evidently you've forgotten the hole we were in 4/5 years ago. I suggest you go back and take a good, long look.
And Terry P's party (republicans) want to cut education spending...laughable...
Toyota3: Education is not a federal responsibility.
Especially in red states, obviously...
USA: Sure buddy, let's cut education spending so we can give more tax cuts to Willard's buddies. Right, that sounds like a good plan?
And that's where the mindset of the Right is at. Let's slash every social program under the sun so we can give more tax cuts to the rich. How about we turn back the clock say, about a century or so?
We can bring back child labor, sweat shops, dismantly the EPA cause we all trust Exxon/Mobil and the coal companies to do the right thing.
Education is not a federal function. It is the responsibility of local and state governments. As for tax cuts, everyone who pays taxes got a cut.
Biden's charitable contributions from the past decade are the astounding part:
Hmmmm Maybe ole willard is trying to take a tax break on the new CA seaside mansion..
Designating it as a Mormon temple or something...
Wonder if most Mormon temples have car elevators, and 4 car garages...
Why do you care?
Anybody know if Mitt said anything new in his speech with the NRA?
I think he said... " I like guns"
The guy is pure political genius !!!!
Geez guys don't you realize that Dubya tried to wreck our economy so he could sell everything to the Saudis.Why do you think we had our forces based in Saudi Arabia,the Saudis got cold feet at the last minute and backed out.Hell Dubya knew they were here on 9/11 he pulled his Bin Laden routine 'cause he didn't feel like f-cking with them so he went to kindergarten to read to the kids.What a sud pucker.
In reading many of the post maybe we should just tell the 1% to find another country to go live in taking their money and businesses. Would that make you happy? Romney will release it when he is ready but would be a good time to tell Obama where he can stick his.
K1200RS-where do you think Mitt got the idea for a car elevator?The Mormon Church used last years donation to install car elevators at all of their churches. That way they can just drive their buses full of their five or six wives into the elevator and it will take them down to their basements and no-one will know that they are still practicing poligomy.
With or without the hidden profits in offshore bank accounts? Guess the 15% tax rate for Rmoney wasn't low enough, so he had to hide $$$ from Uncle Sam.
Jeff #######-no you're wrong Romney is waiting for a chance when he can sneek and file his taxes when everyone is preoccuppied with some disaster.Did the I.R.S. move the filing date forward and surprise Mitt.Did Mitt think that he wouldn't have to file his taxes this year,is this a surprise to Mitt I mean he has been running for public office since 1994,has the filing date been changed?Maybe he just thinks all Americans are as stupid as Republicans are and that we will believe whatever he tells us like the Republicans do.So you little pukefaces go ahead and follow you leader,sheeple you're sheeple.
Well the IRS has not locked Romney up yet but they should be locking Obama up for check fraud since he continues to write checks he does not have the funds to cover. By the way its not up to the rich to bail his backside out. Produce a budget like every business and household in the country. Its not like Romney has setup the tax laws and loopholes that he taking advantage of unlike Obama that has been part of the problem long before he got to the Oval office.