David Plouffe, a senior adviser to President Obama, told Bloomberg Television’s “Political Capital with Al Hunt” re Mitt Romney’s tax returns:
“If he’s got nothing to hide, then there’s nothing to lose.”
The Obama Campaign has been ramping up the pressure on the former private equity executive in order to get Romney to release 23 years of earlier tax returns which were shared for a background check when McCain considered Romney for the veep slot in 2008.
The returns are “just sitting in a box or vault or something,” Plouffe said. “The American people want to have trust in their leaders,” he said.
He also said Romney’s campaign is being backed with independent television advertising funded by the oil and gas industry [i.e., the Koch brothers] and Wall Street, suggesting they expect a Republican president would “take care of their bidding for them.”
Plouffe made his remarks the same day Obama and Vice President Joe Biden released their 2011 tax returns and as the administration is promoting a proposal to impose a minimum tax on those making $1 million a year or more. In keeping with the theme, the White House and Obama’s political aides have been emphasizing that some of the nation’s top earners pay a lower tax rate than many middle-income Americans.
We know that much (millions) of Romney’s investment earnings evade U.S. taxes by residing in Cayman Island accounts.
And, the income that he does pay taxes on is dwarfed by the income from his investments, which is taxed at the cap gains rate of 15% max.....that is, if that money is even in the country.
I don’t know about you, but I’d really, really like to see those tax returns.