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Romney Refuses to Release More Tax Returns Because He Believes In a Tax System with Two Sets of Rules – One for Those at the Top and Another for Everyone Else

Mitt Romney refuses to release his tax returns because he doesn’t want the American people to know whether he’s taken advantage of foreign tax havens to avoid paying his fair share. His corporate tax plan would create 800,000 jobs overseas, which could come at the expense of American jobs. Romney believes in a tax system with two sets of rules – one for himself and others at the top, and another for everyone else.

New Ad on Romney’s Failure to Come Clean and Release More Tax Returns: When Romney goes to Ohio today, he’ll see a new campaign ad asking whether he’s avoided paying his fair share in taxes. He recently said his campaign has “put out as much as we’re going to put out.” It makes you wonder: what’s Mitt Romney hiding?

Even Republicans want Romney to come clean and release more tax returns because Romney has left too much unexplained about his private-sector record, which he’s made the cornerstone of his campaign. Maybe they’re wondering what John McCain saw in 23 years of Romney’s tax returns that made him decide to pick Sarah Palin instead.

Romney believes in a tax system with two sets of rules – one for himself and others at the top, and another for everyone else.

  • He supports an unfair tax system that lets many of the wealthiest taxpayers take advantage of special breaks and loopholes to pay a lower tax rate than many middle-class families.
  • He may have taken advantage of foreign tax havens to avoid paying his fair share. Until he releases more tax returns, we’ll never know if that’s why he had a $3 million Swiss bank account, a shell corporation in Bermuda or a stake in at least a dozen funds in the Cayman Islands.

Romney’s values have shaped the policies he’d pursue if elected President. While the President’s tax reforms ask the wealthiest to pay their fair share and reward companies that bring jobs back to America, Romney’s plans would do the opposite.

  • According to an independent economist, Romney’s corporate tax plan would create 800,000 jobs overseas by eliminating taxes on companies' foreign incomes. Those jobs could come at the expense of American workers.
  • Romney would raise taxes on at least 18 million hardworking Americans while giving millionaires like himself a budget-busting 25 percent tax cut – which would require either exploding the deficit or raising middle-class taxes even more.
  • Romney opposes the President’s plan that would extend middle-class tax cuts for 98 percent of Americans and ask the wealthiest to pay their fair share again.