Romney: Dems would 'distort' tax returns
July 17th, 2012
01:56 PM ET
2 years ago

Romney: Dems would 'distort' tax returns

(CNN) – Mitt Romney continued to stress Tuesday that he has no interest in releasing more tax returns, saying it would provide "hundreds of pages" for opponents to "distort" and turn into attacks against his candidacy.

"In the political environment that exists today, the opposition research of the Obama campaign is looking for anything they can use to distract from the failure of the president to reignite our economy," Romney said in an interview with conservative news outlet National Review Online.

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He continued: "And I'm simply not enthusiastic about giving them hundreds or thousands of more pages to pick through, distort, and lie about."

Romney has already released his 2010 tax returns and an estimate for 2011, with a pledge to release his full returns for last year once they're ready. He filed an extension with the Internal Revenue Service, meaning he may not put out his returns until the October filing deadline.

President Barack Obama's re-election team and top Democrats have been pounding Romney over his tax documents, calling on the presumptive GOP presidential nominee to make public more returns in order to answer questions about offshore accounts and overseas investments.

Defending Romney on a conference call earlier Tuesday, former New Hampshire Gov. John Sununu said each year of Romney's tax returns is about six inches thick. He added if Romney released a dozen years of documents, as some Democrats have would like, then "that'd be about six feet of returns in which they could find whatever...they want to use as a distraction."

Asked why he has not disposed of his offshore accounts, Romney reiterated Tuesday his portfolio is managed in a blind trust that makes it impossible for him to know where his money is invested.

But the former Massachusetts governor did not hesitate to defend offshore investments, specifically naming accounts in the Cayman Islands, one of the countries in which Romney is reported to hold money.

The Republican candidate said the account is established by a U.S. firm to allow "foreign investors to invest in U.S. enterprises and not be subject to taxes outside of their own jurisdiction."

He added: "So in many instances, the investments in something of that nature are brought back into the United States. The world of finance is not as simple as some would have you believe. Sometimes a foreign entity is formed to allow foreign investors to invest in the United States, which may well be the case with the entities that Democrats are describing as foreign accounts."

– CNN's Rachel Streitfeld and Kevin Bohn contributed to this report.


Filed under: 2012 • Mitt Romney • Taxes
soundoff (192 Responses)
  1. Sniffit

    "Romney stop in Pennsylvania puts Keystone battle in spotlight"

    And does he have any special words for the 750,000 legal voters who are at risk of losing their franchise this election because of the state GOP/Teatrolls' voter ID laws?

    July 17, 2012 02:25 pm at 2:25 pm |
  2. Mikey

    @John – Obama did show proof of his citizenship... and independant sources verified it. The Governor vouched for it. The Republican Hawaii Secretary of State verified it. There were birth announcements in both Honolulu papers. Then a bunch of idiots kept asking for his "long form" birth certificate over and over and over – so much that the State of Hawaii had to stop fielding requests.

    We'll stop asking for Romney's returns when he meets the standard set by all Presidental candidates for the past 25 years.

    July 17, 2012 02:25 pm at 2:25 pm |
  3. joeusavotes

    Romney makes a good point. We want to see a rich guys tax return yet don't care that someone was raised in a muslim village in the jungles of the Phillipenes and all those records are locked down. Can we get beyond this and discuss what each one is going to do to move us forward? Are we going to repeat the last four years? Is anything going to change? Do we want someone who spent his life fixing bruised companies or more of what we got?

    July 17, 2012 02:26 pm at 2:26 pm |
  4. Anonymous

    john

    Funny how so many liberals are so upset that Romney won't divulge his personal tax information but didn't seem to mind when Obama didn't show proof of his citizenship. What hypocrits.
    ________________________________________________________________________________________________

    Wow just Wow. Is this all you got left. Throw in the towel. BTW it took 3 yrs of returns for me to get a home loan and also how many years of return do you think Bain required when it was doing due diligence before investing in or buying a company (that they planned to bankrupt).

    July 17, 2012 02:26 pm at 2:26 pm |
  5. ReaiityBites

    Its not so much that dems distort the truth more than reps, as ot is the media's willingness to indulge the dishonesty for a choosen side.

    July 17, 2012 02:26 pm at 2:26 pm |
  6. rs

    Actually, I doubt Dems would or could distort anything- tax returns are tax returns and pretty straightforward, and I think everybody knows how to read them.
    I wonder Mr. Romney if this means that you feel your returns need some sort of explaination, and if so what story do you need the returns to tell?

    July 17, 2012 02:27 pm at 2:27 pm |
  7. Charlotte

    Where is Wikileaks when we need them?

    July 17, 2012 02:28 pm at 2:28 pm |
  8. rs

    Rob- Your side want Mr. Obama's college transcripts- how many politicians have EVER needed to open those? Tax returns are pretty standard. By not showing them, it makes Mr. Romney look like he's hiding something. He should release them. What does it hurt?

    July 17, 2012 02:29 pm at 2:29 pm |
  9. Bill from GA

    It's better to hide the facts on mitts' finances and have Americans THINK he is is a low-life taking advantage of our system, than to release the data and let Americans KNOW he is a low-life taking advantage of our system

    July 17, 2012 02:29 pm at 2:29 pm |
  10. Alan J

    What Romney is saying People in Code is He has some shocking stuff in his tax returns that will blow his sorry campaign out the water and therefore he Does Not want to release them. If he could redact them heavily maybe he would release more, but since he can't; 1 year and a partial one for this year is all he's going to give up! Romney is in a box and he's sweatin bullets. I'm glad the President is still swing!

    July 17, 2012 02:29 pm at 2:29 pm |
  11. Sniffit

    "Mtt has already met the requirements."

    Legal maybe. But we're not talkig about the requirements under the law. We're talking about what the AMERICAN PUBLIC requires....which appears to be much more than Mittens is wiling to give, because polls show this is working and even prominent GOPers/Teatrolls are telling Mittens he has to come clean.

    July 17, 2012 02:29 pm at 2:29 pm |
  12. Blind Trust

    Mitt, go ahead and release the taxes. Since everything is in a blind trust, you can then blame those people for anything that looks shady, slimy, or illegal. Why take the blame for something you yourself said you have nothing to do with anyway? You weren't really making decisions at Bain, just signing the papers as sole owner, manager, director, etc. You don't really have anything to do with your finacial empire, just signing your tax returns every year and raking in all the money from your vast global holdings.

    I'm trying to figure out what his managing credentials are for POTUS, if he actually is not responsible for the business he was sole owner of until 2002 or his vast milions and millions of dollars that he is not actively managing?

    July 17, 2012 02:30 pm at 2:30 pm |
  13. DB in AR

    It took 3 yrs worth of returns for me to get a home loan but it only takes 1 1/2 to be president? Also how many years of returns and filing do you think Romney and Bain would require duirng the due diliegence period from a company before they invested in it or bought it. I can tell you that my bosses requires at least 5 years and they aren't worth 350 million either.

    July 17, 2012 02:30 pm at 2:30 pm |
  14. Ambrose Smith

    Romney loses if he doesn't release his returns and he loses if he does. That's fine with me! This is a gift to Obama!

    July 17, 2012 02:31 pm at 2:31 pm |
  15. Dominican mama 4 Obama

    And that's precisely what Democrats are looking to do according to their "kill Romney" strategy
    -------------------------------------------------
    Democrats don't have to "kill Romney".
    Romney is doing a fine job of that himself.

    July 17, 2012 02:31 pm at 2:31 pm |
  16. lolo

    Shut up and show them Mittens the cowardly lion Romney. The man looks like a crook, is a crook. He knows that he made millions in profit from shipping jobs overseas. He has already said that he has not worked in 6 years and made millions. Now GOP where do you think he got those millions, out of his a$$. Give me a break. It just shows who is really doing the faact checking, because it is not the GOP/TP'ers. Like someone else said they will vote for Satan first, because President Obama does not look like them. They are willing to follow the same Bush policies that aided the rich just to get the black man out of the white house. Stupid is what stupid does.

    July 17, 2012 02:31 pm at 2:31 pm |
  17. Ohio man

    @ john

    Funny how so many liberals are so upset that Romney won't divulge his personal tax information but didn't seem to mind when Obama didn't show proof of his citizenship. What hypocrits
    ________________________________________________________________________________________

    Ummmmm It may have something to do with US already knowning Hawaii is US state... wow.. the repubs didn't know that huh.. hmmmm interesting.. smh

    July 17, 2012 02:31 pm at 2:31 pm |
  18. Alan J

    Rob you got to be kidding me! i see you like criminals in the WH like Bush & Cheney & Romney! Pity!

    July 17, 2012 02:31 pm at 2:31 pm |
  19. Peace

    Romney has been boasting himself that he can not apologise for being rich. Well and good we all now know that. I don't see the problem why he can't come up with his Tax Returns and show them to people, how a rich man proudly paid his taxes!

    July 17, 2012 02:32 pm at 2:32 pm |
  20. Governor 47th in Job Creation (excluding jobs off-shored to China)

    The difference this year is the emergence of the new media led by the internet, Drudge Report and Fox News where people can find the information the elite liberal media will not give.
    ------------------------------------
    This is the joke of the day right here, Wait, you are serious? I love it!! Not only do we have the falsehood of "new" media Drudge and Fox, we compound it by giving those National Enquirer entertainment type outfits news credentials, and then finally we admit that elite and liberal go together thereby meaning that mouthbreathing knuckledraggers make up the GOTP base. The trifecta!!
    Signed,
    A Liberal Elite (thanks for recognizing my higher order thinking!)

    July 17, 2012 02:32 pm at 2:32 pm |
  21. Myviewis

    Very true, Democrats would completely distort everything in his paperwork. Democrats are already believing that a business is successful because of government and not your own doing, they actually fail to realize that if government had no tax money, the government wouldn't exist but a business can exist without electricity, sewage, phones, etc...many countries have businesses running without all the goodies we have, including roads.

    July 17, 2012 02:33 pm at 2:33 pm |
  22. Obama 2012 - MOVE Forward America, NOT another round of DUBYA's FAILURES

    @rob – I cheer Romney for refusing the demands from the Obama campaign and their surrogates in the media to turn over tax returns. He needs to continue to tell the truth about the economy and unemployment and how the Dems don't have any answer except to raise taxes on the "Rich"
    --------------------------
    Rob – that would be great, except Mitten's has yet to tell the truth about anything, but he has yet to decide what the truth is!! I could care less about his wealth or where he hides it. If hiding it is considered tax evasion (which is illegal) then prosecute. If not, release the forms? If you have nothing to hide, what's the problem.
    The real problem with all this is that the GOP has no platform, policies or candidate with which to produce a viable run for President. What EXACTLY does Robme intend to do to "fix" the economy and our fiscal woes? He has yet to say, but indications are that it would be yet another round of failed trickle-down, reduced taxes on the wealthy policy. That's the same approach that got us where we are today, and will NOT solve our issues. What will solve our problems is a WORKING BI-partisan Congress that can actually get something done. If Mittens wins in Nov, this country is doomed !!

    July 17, 2012 02:33 pm at 2:33 pm |
  23. BriSoFla

    OBAMA 2012!

    Mitty his hiding something and trying to pull a spin on it "they're gonna pick on me" boo freakin' hoo! Hey Mitty this is your job interview. Prove to us you are worthy, if you can't go home with your magic underwear. Freak!

    OBAMA 2012!

    July 17, 2012 02:33 pm at 2:33 pm |
  24. cycoblitz

    If he thinks that his records will be distorted, that in itself is shady. The facts are the facts. Sounds like he did when trying to explain his actions in Bain vs his "retirement" when he's still signing papers. Or like the Dems distorted his residency remarks when running for MA gov. Where was he living? Nobody knows.

    Poor Mitt, his whole life has been distorted by everyone but him.

    July 17, 2012 02:33 pm at 2:33 pm |
  25. BriSoFla

    OBAMA 2012!

    Mitty his hiding something and trying to pull a spin on it "they're gonna pick on me" boo freakin' hoo! Hey Mitty this is your job interview. Prove to us you are worthy, if you can't go home with your magic underwear. Freak!

    OBAMA 2012!
    OBAMA 2012!

    July 17, 2012 02:34 pm at 2:34 pm |
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