In a move to try to pacify the growing pressure to release his tax returns, former Massachusetts governor Mitt Romney has given interviews with sympathetic agencies, some with ties to his former business Bain Capital. He tries to point to his 2010 IRS filing to show transparency, but when reviewed it is clear that key portions detailing out his holdings overseas were absent. Then he tried redirection, claiming incorrectly that the wife of former candidate John Kerry had failed to turn over her tax returns. In his interview with the National Review, Romney admits that the use of off shore accounts is in order for investors to “not be subject to taxes” and that the money can then be “brought back into the United States.”
In another time, this might be considered Money Laundering.
Now with the revelations that Mr Romney had a controlling interest and executive position in Bain Capital for up to three years after his claimed retirement, the problems for Mr Romney are piling up. Romney of course dismisses all of these accusations of his control and influence over both his accounts and investments by stating that they are controlled by a blind trust. However, as video footage of Mr Romney himself points out, the blind trust is a ruse and that control is still held by those the trust is set up for, in this case Mr Romney himself.
Political strategist Matthew Dowd in an interview yesterday predicted that unless Mr. Romney capitulates by Friday next week, his campaign is effectively over before it has ever begun. Sources close to Mr. Romney have also said that had he known of the tax return pressure he would have never run at all. Combine this all with the allegations of improper use of an IRA, where he somehow has managed to store up to $100 million dollars in an account which can only accept up to $6,000 per year, Romney is looking at a campaign debacle of legendary proportions.
One possible reason for Romney’s decision to hide his tax returns is the new policy enacted by the IRS under Obama’s lead to crack down on these off shore tax havens and those who use them. Romney’s refusal to release them could be a case of chicken, or a case of fear that he would be looking not at spending the next four years at the White House, to instead spend them at the Big House.
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