CNN confirms Mitt Romney paid no income tax for ten years

CNN confirms Mitt Romney paid no income tax for ten years

This week’s revelation by Senate majority leader Harry Reid that he supposedly has a source who swears Mitt Romney paid zero taxes for a decade initially appeared as if might have simply been a matter of a prominent democrat hurling ugly accusations at the republican nominee for President. But now CNN reporter Dana Bash says that she has a source of her own who can confirm Romney’s zero-percent tax rate for a decade. Rather than not filing his taxes, the accusation is that he found a way to use loopholes and offshore accounts so as to not owe any taxes at all. While such a practice may be technically legal, it paints Romney as a man who not only declines to pay anything approaching a fair share, but literally pays nothing at all. The only tax return he’s publicly disclosed thus far is from 2010, which showed him paying a 14% tax rate. He filed an extension on his 2011 taxes earlier this year, despite presumably having the most competent accountants in the world, which in hindsight appears to have been for the specific purpose of ensuring his 2011 tax rate didn’t become public until after the election, or at least until after he had locked up the republican nomination. Now, the assertion by CNN that he went ten years with a zero percent tax rate places Romney in the position of being damned if he does or doesn’t release his previous tax documents…

http://www.beatweek.com/blog/12853-cnn-confirms-mitt-romney-paid-no-income-tax-for-ten-years/