Despite sharing several years of his tax returns with the Romney Campaign, Paul Ryan is following Willard’s lead and will only release two years of tax returns to the public. Well sort of. Even releasing two years of his tax returns is more than what Willard has done.
Sam Stein reports
Presumptive vice presidential nominee Paul Ryan said on Sunday that while he turned over “several years” of tax returns to the Romney campaign during his vetting process, he would only make two years of tax returns public for voters.
Here’s how Ryan explained it to Bob Schaeffer:
“It is a confidential vetting process. So there were several years. But I’m going to release the same amount of years that Governor Romney has. But I got to tell you Bob — two, I’m going to be releasing two, which is what he’s releasing -– what I hear from people around this country, they are not asking, ‘Where are the tax returns,’ they are asking where the jobs are? Where is the economic growth?”
Fact: The majority of Americans, including some High Profile Republicans like Jon Huntsman Sr. want Willard to show us the tax returns. In fact, according to a CNN/ORC poll, 63% of Americans are saying “show us the tax returns!”
And yes, Americans are asking where are the jobs, Republicans promised would be their top priority during the 2010 election.
Of course, after the election the priorities shifted to caring more about making Obama a one term president, attacking women’s reproductive rights, attacking the poor and let’s not forget the Bush tax cuts.
Let’s be real here. Ryan is attempting to deflect from the subject of tax returns. That has been the tactic of choice and it continues to backfire.
This isn’t about privacy when you consider the precedent for Presidential Candidates and their VP’s releasing their tax returns. Ryan really can’t release more than two years of his tax returns or that would put even more gasoline on a raging fire. So he’s left with deflecting, with the hope that somehow “you people” will just take his and Romney’s word, that they pay lots of taxes.
Ryan went on to talk about how he would get rid of Mitt Romney’s tax shelters lowering everyone’s tax rate. The truth is in the details they hope you don’t look at. As Jason Easley points out:
Romney also claimed in the interview that he would not make the tax burden lower for the wealthy, but that is exactly what his tax plan does. Romney’s tax plan would cut taxes for those in the top bracket by 7%. Romney plans to make up the revenue lost from cutting the tax rate by eliminating deductions used by the middle class and poor. Romney’s tax plan would lead to a net increase in income for the top 5%, and a tax increase for the other 95%.
We’re not talking minor tax cuts for the rich here. According to The Atlantic, Mitt Romney’s tax rate (and other like him) would be .82 % under the Ryan plan. That is based on the tax return he did release in which he paid a tax rate of 13.9% – already a substantially discounted tax rate compared to what the middle class pays.
In 2010 — the only year we have seen a full return from him — Romney would have paid an effective tax rate of around 0.82 percent under the Ryan plan, rather than the 13.9 percenthe actually did. How would someone with more than $21 million in taxable income pay so little? Well, the vast majority of Romney’s income came from capital gains, interest, and dividends. And Ryan wants to eliminate all taxes on capital gains, interest and dividends.
We’re also not talking about small tax increases for the rest of us. The typical America family will see their taxes go up by $2000 under the Romney plan. That may be 1/5 of what Romney considers a friendly bet, but for a lot of people it will make the difference between making it through the year or not.
In addition to the tax hikes, the clownamic duo want to cut programs that benefit those of us who would be paying the taxes if they get their way. Programs like medicare and social security which people who work for a living pay for through out their work lives.
The clown show continues. Stay tuned.
Image from newscorpse