Obama ad continues to hammer Romney over taxes
July 17th, 2012
06:00 AM ET
10 years ago

Obama ad continues to hammer Romney over taxes

(CNN) – In a new television ad released Tuesday, President Barack Obama’s re-election campaign continues its push to get Republican challenger Mitt Romney to release more of his tax returns.

The 30-second spot, “Makes You Wonder,” will run in Pennsylvania the same day Romney travels to the Keystone State.

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“Mitt Romney has used every trick in the book” when it comes to his financial portfolio, the ad’s narrator says. It points to reports of Romney’s offshore investments in places considered to be tax havens for Americans.

Obama’s re-election team and national Democrats have inundated Romney with attacks in recent weeks over his finances, calling on the presumptive GOP presidential nominee to make public additional tax documents to answer any lingering questions.

Romney has released his 2010 tax return and an estimate for 2011. He has pledged to release the full return once it's available.

Obama’s campaign, however, says that’s not enough.

“The ad raises questions about whether Mitt Romney has avoided paying his fair share in taxes,” Obama press secretary Ben LaBolt said in a statement.

He continued: “Until he releases additional years of tax returns, the American people won't know why he kept his finances offshore in the Cayman Islands and set up a shell corporation in Bermuda.”

The ad marks one of several in recent weeks targeting Romney over the issue.

The former Massachusetts governor has firmly stated that he will not be releasing any more tax documents, pointing to the fact that he has already met federal election law by releasing annual financial disclosure reports as required.

"The Obama people keep on wanting more and more and more, more things to pick through, more things for their opposition research to try and make a mountain out of and distort and to be dishonest about," Romney said Monday morning on Fox News.

He has previously stated that he has never been in violation of tax law, highlighting the fact that his accounts are managed in a blind trust and says he’s unaware of where his money is placed.

“That trustee follows all U.S. laws. All the taxes are paid, as appropriate. All of them have been reported to the government. There's nothing hidden there," the candidate said last week on Radio Iowa.

On Tuesday, Romney attends a rally in Irwin, Pennsylvania, a state CNN rates as leaning toward Obama on its Electoral Map.

The Obama re-election campaign has spent slightly more than $3.5 million to run television commercials in Pennsylvania, according to data provided to their clients by Kantar Media/Campaign Media Analysis Group, which tracks political ad spending on broadcast and national cable TV.

Tuesday's new ad is running in the Pittsburgh area, according to CMAG, as well as in Toledo, Ohio on Wednesday, the same day Romney will be in nearby Bowling Green for a campaign event.

- CNN Political Editor Paul Steinhauser contributed to this report.

Filed under: 2012 • Ads • Mitt Romney • President Obama • Taxes
soundoff (14 Responses)
  1. grahame rhodes

    If That's true Then release the stupid tax forms and all this will go away. Obviously he's hiding something because by just saying that he doesn't know where his money is going is a huge joke. Any astute businessman (Which he is) makes it a major priority to know where his money goes.

    July 17, 2012 06:14 am at 6:14 am |
  2. Name

    How could you not know where your money is?

    July 17, 2012 06:32 am at 6:32 am |
  3. Freeb

    Good work Obama team, keep hammering that inauthentic, nausea inducing phony American until he releases his tax returns, or sheepishly walks off stage.

    July 17, 2012 06:54 am at 6:54 am |
  4. Fred

    Not sure I get it.... Is Obama trying to show that Romney is wealthy? Obama's presidential salary alone puts him in the wealthy category.. He is a multi million dollar "1%er" himself... What does proving that another politician that by their very nature have to be wealthy to sustain the burden of campaigning and politics?

    July 17, 2012 06:59 am at 6:59 am |
  5. Out Of Touch with reality

    obama, college transcripts, did you really go, hmmmmm

    July 17, 2012 07:02 am at 7:02 am |
  6. S.B. Stein E.B. NJ

    Really? I don't care how well the rules were followed. It is the appearance of things that count for a lot in politics. Romney should have been told this months if not years ago. He's a fool for not understanding it.

    July 17, 2012 07:05 am at 7:05 am |
  7. FedUp

    How many years of tax returns did Obama release? How transparent has he been with the shenanigans that have been going on in his administration?

    July 17, 2012 07:14 am at 7:14 am |
  8. Wes

    I suppose a tax disclosure would reveal evidence of What Mr. Romney was or was not doing with Bain when he was, parenthetically, in the Olympics. When someone is working so hard to hide something there is something very worthwhile to see in the hiding. He is obviously trying very hard to not reveal his shaved cards. When your name is on the door saying your'e the boss, your'e the boss. He is making a blatant attempt to dodge the outsourcing efforts that he does not want advertised or debated. It is in the politician's playbook.

    July 17, 2012 07:16 am at 7:16 am |
  9. TessaBD

    "In a new television ad released Tuesday, President Barack Obama’s re-election campaign continues its push to get Republican challenger Mitt Romney to release more of his tax returns."

    When will Obama address his own executive staff's failure to pay their "fair share" of taxes? In Jan 2012, the IRS reported that at least 36 members of President Obama’s executive staff owe back taxes to the federal government.
    The Internal Revenue Service revealed that the three dozen Obama staffers owe a total of $833,970 in back taxes from 2010.

    July 17, 2012 07:17 am at 7:17 am |
  10. n

    Has Romney backs up, calculating that the ropes will help support all of that weight behind President Barack Obama's devastating right handed jabs, he cringe with fear, knowing that, that ole south paw is coming with that hay maker, good night Gracie, lights out, feet planted firmly on the ground, right foot in front of the left foot, can't see the left hand but can hear it coming, knock out punch! Romney will eventually yell out, "PLEASE . . . NOT IN THE FACE, I'M A BLEEDER"! 🙂

    July 17, 2012 07:18 am at 7:18 am |
  11. Gurgyl

    Why doesn't mittens declare 10 years tax returns.

    July 17, 2012 07:21 am at 7:21 am |
  12. King

    robots, computer systems, and low wage countries are taking away american jobs. its time obama put America to work, by harvesting some of the american people traditional skills, by using those skills to build roads, bridges, schools, and tunnels. this will put regular folks with skills they've already have to work.

    July 17, 2012 07:21 am at 7:21 am |
  13. sick of republican phonies

    He WILL end up releasing more returns, unless the info in them is too odious; bet on it. People naturally assume the worst when someone is hiding something. He called for transparency and tax disclosures from past opponents, the lying hypocrite.

    July 17, 2012 07:46 am at 7:46 am |
  14. Greg in Arkansas

    The wealthy, in the past, were TRUE PATRIOTS, BUILDERS, INVESTED IN THIS COUNTRY. If the wealthy were all that concerned they would invest in this country, hire people.
    Check the jobs created by the wealthy since the tax reduction by Bush, trickle down theory by Reagan. Did they invest in America? Did they invest in off shore tax shelters so they would not have to pay tax. Did they outsource jobs, privatize public roads, bridges. Look for slave labor so they would not have to pay a living wage here.

    SHOW US THE TAX PAPERS....unless you have something to hide.....

    July 17, 2012 07:52 am at 7:52 am |