Why is Romney not disclosing his returns?

[AAAintheBeltway]

Do you honestly not believe the IRS has been over this with a fine tooth comb?

I'm fully expecting a "leak" in October saying Romney has an IRS problem. That's how Obama "won" his Senate seat over two vastly more qualified candidates.

 

[Free Thinker]

there is only one way it was possible. he found a way to get a valuable asset valued at next to nothing and then stuck it in his ira. when the true value was recognized, shazam,103 million into an ira tax free.

the only good thing is that since its not a roth he will eventually have to withdraw it and pay tax at age 70 unless he can get the law changed or find some loophole before he turns 70. any bets on that one?

 

[noob_trad3r]

Quote from AAAintheBeltway:

Do you honestly not believe the IRS has been over this with a fine tooth comb?

I'm fully expecting a "leak" in October saying Romney has an IRS problem. That's how Obama "won" his Senate seat over two vastly more qualified candidates.

Just like the SEC went through Madoff's Ponzi with a fine tooth comb. OR MF global or PFG

Yeah do you really trust the government to do a bang up job.

Now public scrutiny could shine a light on his returns that would bring the attention of higher senior level IRS folks to look over his returns with a fine tooth comb. And that could be problematic.

 

[Crispy]

Quote from Free Thinker:

romneys ira is something like 103 million. not possible with out going into grey areas of the law.

Executives can amass a fortune in their 401k.s

401ks can be legally converted to IRAs.

You are not only wrong, but ought to be embarrassed posting such drivel on an investment site before fact checking.

 

[Free Thinker]

Quote from Crispy:

Executives can amass a fortune in their 401k.s

401ks can be legally converted to IRAs.

You are not only wrong, but ought to be embarrassed posting on an investment site before fact checking.

it wasnt a conversion and besides they are limited too. geeze. is there some kind of mind numbing substance in the water around here?

 

[AAAintheBeltway]

Quote from noob_trad3r:

Just like the SEC went through Madoff's Ponzi with a fine tooth comb. OR MF global or PFG

Yeah do you really trust the government to do a bang up job.

Now public scrutiny could shine a light on his returns that would bring the attention of higher senior level IRS folks to look over his returns with a fine tooth comb. And that could be problematic.

I have little coinfidence in government, but I have a high level of confidence that obama and the crowd of chicago gangsters running his campaign have had the IRS put a microscope on Romney's returns.

 

[CaptainObvious]

Quote from AAAintheBeltway:

I have little coinfidence in government, but I have a high level of confidence that obama and the crowd of chicago gangsters running his campaign have had the IRS put a microscope on Romney's returns.

As House Honky Joe would say, word. There's not any real dirt cause if there was they would air it right now. It would bury Romney with no chance of recovery. Last minute dirt is something unveiled because you believe given enough time your opponent can recover. Tax evasion/fraud ain't in that category, unless you're in congress.

 

[Ricter]

He's not hiding dirt, as you're right, the IRS would have corrected that issue.

He's hiding that he's paid less than 15% in previous years. Revealing that he paid 15% in all years is a ho-hum to the public, since they've seen it for two years of his returns already. But less than 15%, particularly if it's much less, is news and renews the controversy. That's why he's hiding.

 

[Free Thinker]

Quote from Ricter:

He's not hiding dirt, as you're right, the IRS would have corrected that issue.

He's hiding that he's paid less than 15% in previous years. Revealing that he paid 15% in all years is a ho-hum to the public, since they've seen it for two years of his returns already. But less than 15%, particularly if it's much less, is news and renews the controversy. That's why he's hiding.

i agree with that. nothing illegal. the super rich dont have to do illegal things. they buy the result they want.

 

[Tom B]

Quote from Crispy:

Executives can amass a fortune in their 401k.s

401ks can be legally converted to IRAs.

You are not only wrong, but ought to be embarrassed posting such drivel on an investment site before fact checking.

+1

Also, he probably has a self-directed IRA which allows for a lot of different investments including real estate and business interests.

http://www.selfdirectedira.org/