Ryan worsens Romney's tax problem(s)

[ProSense]

Ryan worsens Romney's tax problem(s)

By Steve Benen

Paul Ryan waited until very late on Friday afternoon, when his aides assumed no one would be paying any attention, to release his tax returns for the last two years (fewer than he made available to Team Romney)...There were no Swiss bank accounts, shell corporations in Bermuda, or stashed cash in the Caymans.

But the developments were nevertheless interesting. For one thing, we're reminded that Mitt Romney pays a much lower tax rate than his own running mate, despite Romney's vast wealth. Even Bill Kristol said this morning, "I think it just seems kinda weird that he pays a lower rate than an awful lot of middle-class people."

For another, Ryan's disclosure keeps the focus on the tax-return issue itself, and Romney's unyielding secrecy.

And then there's the larger issue President Obama raised over the weekend.

For those who can't watch clips online, the president said:

&quot T)he centerpiece of my opponent's entire economic plan is a new five trillion dollar tax cut, a lot of it going to the wealthiest Americans. His new running mate, Congressman Ryan, he put forward a plan that would let Governor Romney pay less than 1 percent in taxes each year. And here's the kicker -- he expects you to pick up the tab.

"Governor's Romney tax plan -- this is not my analysis now -- this is the analysis of independent folks who analyze tax plans for a living. That's what they do. Their analysis showed that Governor Romney's tax plan would actually raise taxes on middle class families with children by an average of $2,000. Not to reduce the deficit, not to grow jobs, not to invest in education, but to give another tax cut to folks like him.

"Now, ask Governor Romney and his running mate, when they're here in New Hampshire on Monday -- they're going to be coming here on Monday -- ask them if that's fair. Ask them how it will grow the economy. Ask them how it will strengthen the middle class."

That part about Romney paying "less than 1 percent in taxes each year" was of particular interest.

- more -

http://maddowblog.msnbc.com/_news/2012/08/20/13377414-ryan-worsens-romneys-tax-problems

Trust Mitt: Releasing his tax returns would be "damaging" and policy details would be "suicidal"
http://www.democraticunderground.com/10021151118

[HopeHoops]

1. Man I love listening to him speak. He knows his shit and has the delivery to back it up.

[1StrongBlackMan]

2. But ... But ...

But ... It's all tele-promptered!



Can't Wait for the Debates!

[1StrongBlackMan]

3. I'm loving this ...

&quot T)he centerpiece of my opponent's entire economic plan is a new five trillion dollar tax cut, a lot of it going to the wealthiest Americans. His new running mate, Congressman Ryan, he put forward a plan that would let Governor Romney pay less than 1 percent in taxes each year. And here's the kicker -- he expects you to pick up the tab.

"Governor's Romney tax plan -- this is not my analysis now -- this is the analysis of independent folks who analyze tax plans for a living. That's what they do. Their analysis showed that Governor Romney's tax plan would actually raise taxes on middle class families with children by an average of $2,000. Not to reduce the deficit, not to grow jobs, not to invest in education, but to give another tax cut to folks like him.

The problem is so clear that even Kristol must acknowledge the problem ...

"I think it just seems kinda weird that he pays a lower rate than an awful lot of middle-class people."

It's not so much the romney paid a lower rate that's gonna cause the bloody nose, black eyes and split lips ... it's HOW he is able to ... through the capital gains scheme that values passivity over hard work.

And the ryan pick frames it perfectly. ryan worked for a living (just like 99% of Americans) and paid a higher rate than someone who invested other peoples' money.

It's as if the romney campaign is being run by the President Obama campaign!

[ProSense]

4. Excellent point:

"It's not so much the romney paid a lower rate that's gonna cause the bloody nose, black eyes and split lips ... it's HOW he is able to ... through the capital gains scheme that values passivity over hard work."

Oh, and all the other stuff lurking in his returns are going to be a treasure for Democrats.

[1StrongBlackMan]

5. True ...

And, I suspect, some of it ... {Cough, Cough} the tithing thing of a former Bishop ... won't sell well with the Mormon crew, either.

"Lying FOR the Church is one thing; lying TO the Church is quite another.

And the Democrats won't even have to raise it!

[Tarheel_Dem]

6. Thanks for sharing that clip.

[hfojvt]

7. makes for an easy example

Romney's income $21 million, tax rate 14%
Ryan's income (wages) $153,000, tax rate - 20% (not including payroll taxes of 7.65%)

Romney makes about 65 times as much as Ryan, but still pays a lower tax rate.

And most of Romney's income - $3.3 million in interest, $4.9 million in dividends, and $12.6 million in capital gains - is made without doing one iota of actual work.

[ProSense]

8. And still begs the question:

What is Mitt hiding?

[ProSense]

9. Kick! n/t