July 31st, 2012
By Frank Byronn Glenn -- In a potentially explosive development today, Democratic Senate Majority Leader, Harry Reid,
revealed that nearly a month ago a Bain Capital investor called him and told him that Mitt Romney paid no income taxes for 10 years. No wonder he doesn't want to release his tax returns. It could be a game-changer!
Senator Reid went on to say that the estimates of Romney's wealth of around $290 million dollars are wildly off the mark.
Reid said, in essence, that if you're making $22 million dollars a year -- and paying 13% or less income tax on it each year -- would add between $17 and $20 million dollars per year to Romney's net worth. So, even if his net worth was zero at the beginning of the decade -- which we know that it wasn't -- he would have a net worth of between $170 and 200 million dollars -- based solely on his annual income for the last 10 years and 13% or less in taxes. And remember -- the Bain Capital investor said Romney paid no taxes.
In the spirit of full disclosure, of course, it must be noted that Harry Reid himself admitted that he had no "proof".
He acknowledged that he was just repeating what he had been told -- by someone who appears to have been in a position to know.
It goes without saying, however, that there is one person in the United States who surely knows whether or not the fact that he did not pay taxes for 10 years -
- and that his net worth is higher than he and his campaign allege as a result of not paying taxes -- and that guy is Mitt Romney. And if he is disturbed by the allegations flying around -- he can put it all to rest. All he has to do -- is release his tax returns for the last 12 years. Case closed.
But for my money -- now -- until Mitt Romney releases tax returns for the last 12 years proving otherwise -- I am going to just assume it is true.
And I am not going to vote for a guy who has so much to hide in his financial dealings that he can't even release his tax returns. Like Richard Nixon famously said once -- "I am not a crook", just a short while before we discovered that he was a crook -- a swindler -- and a liar.
So come on, Mitt! The company you're keeping, it seems, is ever-progressively more unsavory with each passing day.