You’ve Got To Be MITT-ing Me. Why Do Tax Returns Matter For The Presidential Race?
Usually when I wake up in the morning, I check my email on AOL. AOL always has breaking news stories posted on their web from the online news outlet, The Huffington Post. So when I saw the headline “Mitt Romney Tax Returns Revealed”, I smiled and clicked on the link, hoping to find out there was some type of inconsistency with what Romney claims to pay in taxes and what the government revealed to the public.
Everyone who is familiar with the presidential election knows that Mitt Romney is supposed to be this rich politician/American business man who has benefited from Bain Capital (which Saturday Night Live so cleverly exploited last week). Mitt Romney’s campaign has also claimed that Romney’s tax rate was twenty percent over the past two decades. According to the tax documents from 2011, Romney’s tax rate was a mere 14.1 percent which is 1.9 million dollars from his income of around 14 million dollars compared to the Obama’s 20 percent in taxes on about 800 thousand dollars from his 2011 income.
What does this say about Romney?
Considering the highest tax rate is 35 percent and Romney definitely makes more than the average American (in fact he IS the one percent), he is expected to pay more. But more importantly, the main issue in America right now is the economy. Unemployment is up and many people are concerned about how much they will owe in taxes. The fact that the rich are not paying a lot, which many liberals feel that they should, makes Americans thinks that they will have to pay even more in taxes to make up for the money that the rich are keeping for themselves instead of giving to Uncle Sam.
On another note America cares so much about tax information and legal documents because the issue came up with Barack Obama when Donald Trump demanded to see proof that our president was born here. He released the documents and arguable, that was the end of that. Now the issue is with tax returns. The fact that Obama released his returns for the past dozen years shows that he has nothing to hide. The fact that Romney is avoiding releasing more tax returns proves to many voters that the Republican presidential nominee might have something to hide.
Carter, Zach. “Mitt Romney Tax Returns For 2011 Released (UPDATE).” The Huffington Post. TheHuffingtonPost.com, 21 Sept. 2012. Web. 22 Sept. 2012. <http://www.huffingtonpost.com/2012/09/21/mitt-romney-tax-returns-released_n_1904242.html?utm_hp_ref=politics>.