The Real Reason for Romney’s Reluctance to Release Returns?

The Real Reason for Romney’s Reluctance to Release Returns? September 27, 2012

Holy alliteration, Batman! Paul Abrams, writing at the Huffington Post, continues to argue that the real reason why Mitt Romney has refused to release most of his tax returns is because he took advantage of an amnesty provision to close a Swiss bank account that was being used to avoid taxes that he legally owed.

His disclosure of his 2010 account omitted information about his Swiss bank account at the Union Bank of Switzerland (UBS). Why is the press not asking for this form? UBS was fined $760 million for putting Americans into abusive tax shelters and forced to reveal more than 4000 Americans who banked with them under numbered accounts.

The 4000+ Americans who were exposed by UBS were offered amnesty from criminal prosecution for tax evasion if they closed their Swiss Account, recalculated and paid all back taxes and paid a 25 percent penalty on the largest amount…

To review, here is the circumstantial evidence:

i) Romney closed ONLY his Swiss UBS Account, not Caymans or Bermuda or Luxembourg. Hence, he cannot claim “bad optics for a campaign” as the alternative explanation;

ii) Romney closed the UBS account during the time required to receive amnesty;

iii) Romney omitted from his public disclosure of his 2010 returns the specific information about the UBS account;

iv) Romney took six extra months to prepare his 2011 returns, disclosing them in the countdown to the election, whereas he could have disclosed 2009 immediately with 2010, getting all that bad news out at once, during the primary, so that it would be ancient history by now. That is strong evidence that 2009, that would have shown the amnesty with flashing lights, was too toxic.

The press should be pressing for answers to each of these questions, as well as the over-arching question of amnesty. Otherwise, there is a real chance that a man who committed a federal crime and received amnesty could be occupying the nation’s highest office.

I suspect he’s right. I also suspect that he released only the summary of previous years because he was forced by teh amnesty to revise many years of tax returns. How else to explain why they’ve taken the enormous political damage that has occurred by playing all these games with the release of his tax returns? The only logical reason is because they know the alternative would cause even more damage.

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