Obama campaign dismisses Romney tax revelationBreaking News, Top Highlights Thursday, August 16th, 2012
GREER, S.C. (CNN) – The Obama campaign have dismissed Mitt Romney’s revelation that he has paid no less than 13 percent in personal income taxes over the past ten years, saying, “Prove it!”
“Mitt Romney today said that he did indeed ‘go back and look’ at his tax returns and that he never paid less than 13 percent in taxes in any year over the past decade. Since there is substantial reason to doubt his claims, we have a simple message for him: prove it,” Obama campaign spokeswoman Lis Smith wrote. “Even though he’s invested millions in foreign tax havens, offshore shell corporations, and a Swiss bank account, he’s still asking the American people to trust him. However, given Mitt Romney’s secrecy about his returns, coupled with the revelations in just the one return we have seen to date and the inconsistencies between this one return and his other financial disclosures, he has forfeited the right to have us take him just at his word.”
The presumptive GOP nominee has faced withering criticism from Democrats over the release of his tax returns, including a charge by Senate Democratic Leader Harry Reid that Romney had paid no taxes for a ten year period. Reid did not specify if those were the last ten years, or an earlier period.
He expressed frustration with Reid’s attack at a press conference with reporters in South Carolina.
“I did go back and look at my taxes and over the past ten years I never paid less than 13 percent. I think the most recent year is 13.6 or something like that. I paid taxes every single year,” Romney said, explaining he had gone back to check his records after being asked by a reporter about the tax rates he had paid. “Harry Reid’s charge is totally false. I am sure waiting for Harry to put up who it was that told him what he says they told him – I don’t believe it for a minute by the way – but every year I paid at least 13 percent and if you add in addition the amount that goes to charity, why, the number gets well above 20 percent.”
Reid had told reporters an anonymous source gave him a tip. A source close to Reid later said that Reid got the information from an investor with Bain, the private equity firm Romney ran.
Romney has released his 2010 tax returns and an estimate of his 2011 tax returns when he filed for an extension, but has declined to make available any earlier returns.
On Thursday he called insistent questions over his tax documents “small-minded compared to the broad issues that we face” such as unemployment and the nuclear threat from Iran.
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