Romney tax return: Why release now?
September 21st, 2012
03:39 PM ET
2 years ago

Romney tax return: Why release now?

(CNN) – At first glance, Mitt Romney's decision to release his tax return on a Friday afternoon seemed to be a way to bury a story that has dogged the Republican presidential candidate for much of this year.

But was this a case of the "Friday news dump" that's become commonplace in the nation's capital?

Maybe, but maybe not.

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While it's true, a story released on a Friday afternoon or early evening tends to get less attention thanks to the approaching weekend, in this case the attention may be welcomed.

It's already been a rough week for the Romney campaign, thanks to those "47%" secretly recorded videos of Romney at a fundraiser when he cast supporters of President Barack Obama as dependent on government. The release of those clips on Monday has dominated coverage of the race for White House the entire week.

The Romney campaign's release of the long awaited 2011 tax returns may be an attempt to change the conversation.

Romney pays extra taxes to keep his word, and break it too

The campaign calendar may also be forcing Romney's hand. Releasing the tax returns next week would take away from what the Romney campaign hopes is a ramping up on the campaign trail, centered around a three-day swing through the battleground state of Ohio. And the next week the debates begin. Releasing tax returns just prior to or during the three presidential and one vice presidential debate would only accentuate the tax return story.

The Romney campaign says there was no strategy involved in the release. Romney spokesman Kevin Madden said the returns were released "because they were ready."

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Filed under: 2012 • Mitt Romney • Taxes
soundoff (134 Responses)
  1. Sniffit

    "Face it lefties, Mitt just totally pwned you.

    BTW dont believe your own ridiculously oversampled polls showing Obama ahead. Look at Rasmussen and Gallup who have this thing a dead tie.

    Romney is winning."

    HAHAHAHAHAHAHAHA!! No. Just....no. CONFIRMATION BIAS FAIL.

    September 21, 2012 05:31 pm at 5:31 pm |
  2. Why Is this News

    Seriously, Why Is this News ?

    September 21, 2012 05:32 pm at 5:32 pm |
  3. Sniffit

    "The Romney campaign says there was no strategy involved in the release. Romney spokesman Kevin Madden said the returns were released "because they were ready.""

    HAHAHAHAHAHA!!! And that's why they acme out the same day as Mittens elaborate end-run around producing tax returns for the past 10-12 years? No. Just....no. FAIL FAIL FAIL.

    September 21, 2012 05:33 pm at 5:33 pm |
  4. Iconoclast

    Well if Mitt says it's so it must be the truth, right???Now, SHOW us all the returns for 2002-2011 or go home Romney.

    September 21, 2012 05:33 pm at 5:33 pm |
  5. Why Is this News

    Obama and staff can't get story straight on the murder our an ambassador. By the main stream media ignores that headline..

    September 21, 2012 05:34 pm at 5:34 pm |
  6. omeany

    Things must be REALLY bad for Mitt if he released another year of taxes! Maybe if another tape surfaces where he tells us what he really thinks of us little people, we will eventually get all his tax returns!

    September 21, 2012 05:35 pm at 5:35 pm |
  7. Reagan80

    Last week it was "why wait?" now, it's "why now?" Left wing lunes.

    September 21, 2012 05:36 pm at 5:36 pm |
  8. macbil

    And Romney's accountant is Pricewaterhouse Coopers. The same accounting firm that gave advice to Enron about how to move money off-shore to the Cayman Islands in 1999. Oh, that makes me feel confident that what they're saying it true.

    September 21, 2012 05:40 pm at 5:40 pm |
  9. Brandon

    Jeckers

    To Brandon – charitable contributions have everything to do with taxation. The government gives a deduction for this (if you can itemize) in order to give an incentive to the American public to donate – because that is where funding should be coming from.

    So – let's put some numbers to this – ***the rates are only estimate***

    Let's say that you make $500,000 after everything and have a tax rate of 20%. You would pay $100,000 in taxes.

    So – assume that you pay $100,000 in charitable contributions. That lowers your adjusted gross income to $400,000 and that lowers your tax rate to 15%. You now would be paying 15% taxes on $400,000, or $60,000 – a $40,000 reduction in taxes due.

    Sounds good – but remember, you had to pay out $100,000 charitable contribution in order to get a $40,000 reduction. So – how much did you really pay? $160,000 on $500,000 of income or 32%.....Effectively a take-home of $340,000. You could have just paid the $100K in taxes and stuck with the take home of $400,0000.

    You act like he made those charitable contributions out of the goodness of his heart. The mormon Church REQUIRES its members to donate 10% of their income to it. call it a "union Due". So....stop acting like he's donating out of the goodness of his heart.

    And at the end of the day....its the tax roll that's suffering, not charities. We don't have a deficit because of a lack of contribution to charity. We have a deficit because of a lack of revenue to the tax system, and out of control spending. In my estimation, ALL are at fault. One, for not PAYING his fair share, and the other for wrecklessly spending what's there.

    September 21, 2012 05:40 pm at 5:40 pm |
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