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Mitt Romney Aides On Tax Return Issue: 'We Put It To Bed'

Mitt Romney Tax Returns

First Posted: 01/24/2012 3:02 pm Updated: 01/24/2012 3:29 pm

TAMPA, Fla. -- Mitt Romney's campaign is firmly operating as if the former Massachusetts governor's tax returns, which dogged him throughout the South Carolina primary, are now an issue of the past.

Speaking just hours after Romney released his 2010 tax returns and estimates for 2011, spokesman Eric Ferhnstrom was already trying to move on.

"As far as we are concerned, we put it to bed," he said, at a campaign stop in the outskirts of Tampa.

After Monday night's debate -- hours before a single document was released -- Stuart Stevens, Romney's top strategist, similarly declared: "I think we are beyond it now."

This may be wishful thinking on the Romney campaign's part, but it is certainly working overtime to shut down any continuing focus on the matter. The documents unveiled Tuesday morning contained few surprises: they showed that Romney is incredibly wealthy and pays low tax rates on the money he makes. The former Bain Capital CEO paid an effective tax rate of 13.9 percent on $21.6 million in largely investment income from 2010.

But the files also raised a number of questions, including why Romney only released one full year of returns when he offered the McCain presidential campaign more than 20 years when he was being vetted as a possible running mate, and whether or not it was fair that he could afford the aid of pricey accountants when others could not.

Aides to Romney were peppered with these exact questions during his Tuesday morning event in Tampa, and they stuck largely to the same script.

Romney, said Ferhnstom, "paid a lot of money in taxes, made a lot of charitable contributions and paid 100 percent of the tax that was owed to the U.S. government. In fact, if you take his total taxes paid in 2011 and add that to his charitable contributions that amounts to roughly 35 percent of his income. I think he gives away a good deal of what he earns."

It is true that Romney gives away between 30 and 35 percent of the money he takes in when you add his charitable contributions to the total -- $4 million in 2011 and $3 million in 2010, much of it to the Mormon Church. But it should be noted that many Americans end up giving away 35 percent of their money because they are taxed at that level.

The campaign's talking point that Romney had paid 100 percent of the taxes he owed, meanwhile, seemed like it should be a bare minimum requirement for a presidential candidate, rather than something to applaud.

"Absolutely," said Ferhnstrom, in apparent agreement with that assessment, "and he did it. He paid 100 percent of his taxes not a penny more, not a penny less."

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TAMPA, Fla. -- Mitt Romney's campaign is firmly operating as if the former Massachusetts governor's tax returns, which dogged him throughout the South Carolina primary, are now an issue of the past. ...
TAMPA, Fla. -- Mitt Romney's campaign is firmly operating as if the former Massachusetts governor's tax returns, which dogged him throughout the South Carolina primary, are now an issue of the past. ...
 
 
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09:50 PM on 01/26/2012
They only wish it was an issue of the past....but I sincerely doubt it!!! It will come back to haunt him.
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09:16 PM on 01/25/2012
Is everybody in Willard's campaign off their meds?
04:27 AM on 01/25/2012
and whose bed did they put it in? fools.
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phoo-doo
09:25 PM on 01/24/2012
"In fact, if you take his total taxes paid in 2011 and add that to his charitable contributions that amounts to roughly 35 percent of his income."

His spokesman is actually going to try to argue that his subservience to the Mormon church makes his hiding of his money from the American system more palatable?
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08:17 PM on 01/24/2012
If I woke up tomorrow and learned that I had won a $100 million dollar powerball lottery, I would RUN, not WALK, to the best investment advisor I could dig up. He or she would then figure out how, under the current tax law, to best maximize my money so that I could give to the charitable causes I believe in, take care of my family, my grandkids and my great grandkids, and still have enough left to drown a few quarters in Vegas. Although Mitt Romney probably doesn't believe in gambling at all, I see no difference between what I would do and what he already did. Anyone who makes a different claim as to what they'd do with that much money is lying.
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phoo-doo
09:55 PM on 01/24/2012
The difference is just that I probably wouldn't vote for you to be President of our nation, if your strategy included hiding money in secret accounts to benefit other nations over America.
07:30 PM on 01/24/2012
And I am positive that the the American voter is going to put his "application" for the POTUS to bed too!!! More like the trash can....!!!

He just doesn't get it.....
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Perseus
07:22 PM on 01/24/2012
Yeah, those Romney aides are hitting it out of the park on this campaign.
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Rangergirl
Needs of many outweigh needs of few or one
07:21 PM on 01/24/2012
They just Started a new chapter how arrogant of them to think folks won't care?.. Mitt won't be President neither will Newt.
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krenzny
WTF?? Get up, stand up!
06:38 PM on 01/24/2012
Sure, he paid 100% of the taxes he owed the U.S Government. They just didn't know about the 'other'money.
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morefromLA
A fighting liberal and proud of it
06:11 PM on 01/24/2012
They tried putting it to bed but not before a STD was passed. Clean up your minds people. STD stands for Serious Tax Disorder.
05:47 PM on 01/24/2012
Why is the mainstream media impressed that a mega millionaire gives money to his church. ALL Christians are required to tithe 10% of their income to the church. That means Romney's maid, driver, cook, etc. if they are Christians and certainly making less than $50K a year are paying a higher tax rate and still donating 10% to their church. I'm sick of the media making excuses for Mitt Romney. Most Americans are charitable, but we have to be charitable paying our fair share of taxes and struggling to make ends meet!
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chris hatala
06:25 PM on 01/24/2012
Aren't his help illegals that came from the Cayman Islands?
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phal4875
The world is run by cats; we just feed them.
06:52 PM on 01/24/2012
dtd said "ALL Christians are required to tithe 10% of their income to the church." I believe some churches ask for that, but it is hardly required of all Christians.
08:19 PM on 01/24/2012
You're talking about Christians. Mormonism is a cult.
leonel
MA, Pol.Sci.; MA, Ed.; JD. Veteran.
05:47 PM on 01/24/2012
Romney was willing to show his complete record to McCain in order to be considered for VP but he is unwilling to show his complete record to the public to be considered for president.

It is starting to make sense for conservatives to change to Newt because Romney is seeming less electable, what was considered his main strength. Basically, both are making as extremely conservative attacks on democrats as possible. Mitt is considered too cold and Newt as too hot.
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Grichde
Little Hope, Wrong Change
05:27 PM on 01/24/2012
Warren Buffet gets a 2 billion dollar tax break from Obama. This is the same guy that claims to want to pay more taxes. 

Buffet gets one massive incentive payments for the Topaz Solar company. The tax break equal to 100% of the cost of the project. This “Bonus tax deduction” can be used to reduce federal taxes in the year that that the project is first completed. 

Berkshire Hathaway at the tax rate of 35%. Therefore the value of the tax deduction could be as high as $700,000,000. Then he get one year write off the balance. Of course Buffet can engineer any income necessary to max out the tax deduction.

Then Buffet get 25 years of income form the sale of the power. That money could have gone a long way to support One of our few surviving solar companies. Rather than supporting green initiatives it's go to a corporate giant. 

First solar (one of the few proven solar companies) in Sept 2011 after getting a $1.93B conditional loan guarantee from the DOE earlier this summer, DOE then said its 550MW Topaz project won't meet the necessary qualifications for a Sept. 30 deadline. Although the Deadline was extended for Warren Buffet to meet the approvals. 

Coming on the heels of the Solyndra debacle, were Obama lost 1/2 billion dollars on an unproven technology the Obama administration has just approved a $168.9 million loan guarantee for the Granite Reliable wind farm project owned by Brookfield Asset Management (BAM). Clearly a corporation
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morefromLA
A fighting liberal and proud of it
06:06 PM on 01/24/2012
Thank you. I'll seriously consider whether or not to vote for Warren Buffet as President. Thank God I came to this site. I had no idea he was running.
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123biteme
This we will defend
06:58 PM on 01/24/2012
What happened to the $9 billion dollars in cash that suddenly disappeared in Iraq? Idiot!
hgus
It's not about the economy, stupid
05:26 PM on 01/24/2012
He made income of $21.6 Million and paid less than 14% in federal income tax. Yet he and the GOP argue that if we lower taxes on "Job Creators" they will create more jobs?

Really? What Tax rate do we need to give them for them to start creating jobs?

Cheveron made Billions in profits but paid NO income tax and the GOP wants to lower the corporate tax rate?

What does that mean? Should tax Payers start actually paying the "job creators" ?
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pmoschetta
Where are the Jobs, Speaker Boehner?
05:37 PM on 01/24/2012
Capital gains were divised for job creation or job investment and instead Mitt uses his for personal wealth

I want to see his tax returns from the 5 previous years. One year isn't sufficient considering every candidate for POTUS since 1968 has released at least 4 of their previous.
Mitt can't be let off the hook
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Grichde
Little Hope, Wrong Change
05:47 PM on 01/24/2012
Yet Warren Buffet get more in tax breaks on one deal then Mitt Romney net worth by eight times.
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morefromLA
A fighting liberal and proud of it
06:06 PM on 01/24/2012
We already are. They want more.
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Hoosier451
05:25 PM on 01/24/2012
Ha. These guys better practice spinning or they'll end up saying something stupid like "people talking about social justice are envious."

Oh wait...