Romney Must Release His Tax Returns Immediately, According to Newsmax

Romney Must Release His Tax Returns Immediately














2012 GOP candidate Mitt Romney


For the past few weeks there has been pressure on former Massachusetts Governor Mitt Romney to release his tax returns.  He's been under fire over this issue the past week when it was revealed that he payed a tax rate of 15%.  The marginal rate for millionaires is 35%.  Also, it's been revealed that some of his income is invested offshore at the Cayman Islands, which has no direct taxation.  In other words, his income that's invested in the Cayman Islands wouldn't be taxed.  I can understand Romney investing money in shelters where it won't be taxed.  Who wants to see the income they've earned be taxed at a very high rate because they're rich?  Nobody, not even the Democrats in Washington.  The Democrats want to complain about the richest few not paying their fair share in taxes.  I wonder if the Democrats on Capitol Hill pay their "fair share" in taxes? 

This past week Romney has relucantly agreed to release his tax returns in April.  Some are questioning why April?  Who knows?  Maybe so he can manipulate the numbers when he files taxes for last year.  Just for trivial purposes the very first presidential candidate to release tax returns was none other than Mitt Romney's father, George in 1968.  George Romney, who briefly ran for president in 1968, released dozens of tax returns that year.  Newsmax asserts that Mitt Romney needs to release his tax returns.  I happen to agree he needs to release his tax returns, if for no other reason than accountability purposes.  If Romney will immediately release his tax returns, he's showing the American people that he desires to be the opposite of President Obama--that is transparent.  I know one can argue that the government's taxation policy is ridiculous and that it's none of the government's business how much income an individual generates.  I agree with that.  Nevertheless, Romney should be explicit that the government's tax code is ludicrous and it does nothing but punish those who are successful in the realm of business.  Also, high taxes discourage investment as well.  There are plenty of reasons for being opposed to the present tax code. 

We need to revamp the tax code and replace it with a flat tax.  All Americans will pay the same tax rate regardless of income category.  That way there would be no need for any American to file personal income taxes on a federal level.  Until the tax code is changed, it would be wise for transparency sake that Romney release his tax returns to show that he's being transparent to the American people.  Could it hurt his chances in winning the GOP primary?  Only time will tell.  As it stands right now, all polls are indicating that Newt Gingrich might be the winner in today's South Carolina primary.  If Romney wants to be the GOP nominee, he would help his case by releasing his tax returns ASAP.