Romney and his Taxes....Why it Matters

For once I must admit, the idea for this entry did not come from the "Liberal News Media", but from watching one of the Republican Debates, and that is the issue of canidates disclosing their taxes.  And if you questioned the legitimacy of the Presidents citizenship because of a lack of transparency you must turn that same microscope on Mit Romney for his delay in releasing his tax returns.  But I feel that two issues will become glaringly obvious when they are released.

The first issue I have with what we have learned already is not that he only pays a overall 15% tax rate, but why!  The issue of him only paying 15%, is ridiculous and speaks volumes about the need for tax code reform.  But the fact that most of his income came from investments and that is the reason he only pays 15% is just silly.  Investments, at least stocks, does nothing to stimulate the economy.  These are sales between banks/stock brokers and after the IPO the companies receive no additional money.  Tens of  millions made and lost in the stock market contribute nothing to the bottom line except tax income, no investment in R&D, no inventory purchases, no new hiring, so why should anyone get a tax break for this type of INCOME?  I can see if your investing in some business to help create or grow it, but for essentially gambling you get a tax break?

Secondly and more suspicion based, what is he hiding?  Offshore bank accounts?  Lose interpretation of the tax code, that only high paid accounts know about?  Questionable investments to PACs? But like I said, just a hunch......

In addition to his taxes, i have other questions about his fitness to run our nation.  Like how could he not only support universal health care in MA but enact it as Governor and now oppose it because it is an unpopular concept in is party.  The CBO has said that Obamacare, which to me is a feather in his cap not a stigma, will reduce the number of uninsured nonederly by 32 million by 2019 and will produce a net reduction in federal deficits of $143 billion over the 2010-2019 period.  Why is this not still a good idea? FLIP FLOP, to use a Republican term. 

There are other reason that I feel he is not a good choice for President, but I am surprised this is the best the Republicans can offer.

Jared
Congression Budget Office (CBO)The reson for the Cayman Island accounts