What if not paying taxes is the tip of the Iceberg (Romney's issue)

[Justice wanted]

I see on Late Breaking News Nancy Pelosi is backing Reid on the fact that Romney didn't pay taxes.


My friend and I talked about this last night and she brought up an interesting point. She said, "Let's face it we may not like to admit it but a lot of rich people and powerful people get away with not paying taxes. Creative accounting, LLC and the like but The way Reid and people keep hammering on the fact he didn't pay taxes makes me think there is something more serious and IF people are able to see those taxes it would lead to something illegal."

She has me thinking that maybe Reid knows that something is going on illegal BUT he can't say anything because it would bring more questions as to how his source got the information BUT it is known Romney has bragged he hasn't paid taxes for years by those who invested in Bain (One should also be asking how many current Senators and Reps invested in Bain) BUT for Reid to hammer this makes me think there is something more. Something Reid knows but can't actually say without people saying oh, Dems are trying to Rig the election. I think He knows it has to come out through the media for people to realize and accept the truth.

Now that Nancy is basically "triple down" on this I think a lot of people know what Romney's hiding and hoping it comes out before the election.

[lob1]

1. I think Obama's team has something on Romney, too.

But they won't let it out of the bag until after the pub convention.

[oldhippydude]

2. where is a real journalist

for this years deep thoat... could it happen today?

[aint_no_life_nowhere]

3. Where are Romney's 2010 returns??? I'm talking about State tax returns

He hasn't even released those and what would they reveal regarding his place of residence? Didn't he vote in a special election in Massachusetts? Unfortunately, no one is calling for the release of his 2010 return, not even Harry Reid. Voter registration fraud in Mass is punishable by up to 5 years.

[1-Old-Man]

4. If Romney had a brain he'd release it all today, this country doesn't have a 90-day memory

No matter how daming the returns might be he should release them immediately. Come November the country will have forgotten if he gets them out now, but if they come out with just days or a couple of weeks to go until the election then he will be in trouble.

[dballance]

5. Here is the way it will all work out if he finally has to release his taxes

Option one:

There is something in those returns that is very shady and stretches the tax code to the limit but could be considered legal or illegal depending on which auditor you get reviewing the returns. This could lead to some determination that some deductions or machinations by his accounting firm were really not allowable so he gets hit with back taxes and penalties. If this happens Romney's accounting firm and the trustee of his "blind" trusts will end up being the scapegoat and Romney will claim ignorance since so much of his finances have allegedly been managed without his intervention by the trustee.

There are so many politicians on both sides of the isle in a similar position so none of them will make anything of it.

Romney will pay the taxes and penalties and be so remorseful that his advisors made mistakes. But, of course they did it, not him. Slap on the wrist and then back to the good life at one of his multiple mansions or yachts.

Option two:

Harry Reid's source is correct. Romney's accountants found creative ways to take losses on deals or investments and hid lots of funds overseas so Romney ended up not paying taxes in some years. This is probably the worst case for Romney since most regular people can't do this and have no chance of ever doing it. It would be compounded if his accountants actually found creative ways to not just pay zero taxes but to get a refund. It seems some corporations have found ways to do this - just Google on it.

This would be a very bad PR situation that would torpedo him.

Option three:

Both options one and two are true. I think this is a very likely scenario and would really be a nuclear bomb for his campaign.


Let's hope we find out option three is the correct one.