Wednesday, August 15, 2012

Why won't Romney release more tax returns?

(CNN) -- By announcing that he will release no further tax returns beyond his 2010 and 2011 returns, Mitt Romney appears to have exempted himself from the proud bipartisan tradition of presidential nominees displaying genuine financial candor with the electorate. What is more, his disclosure to date is in the wrong direction: It is the release of Romney's past returns, not his current ones, that matters. Since George Romney inaugurated the practice more than 40 years ago by releasing 12 years of tax returns in his bid for the Republican Party nomination, presidential nominees have been transparent with voters about their personal finances. For this reason, we have not suffered a significant tax scandal involving a nominee or sitting president since President Richard Nixon's abuse of the tax code. Either Romney has an unresolved father figure issue, or he has some special reason not to follow a tradition established by his father.

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