04 August 2012

Romney Tax Returns Case Analysis


Case 1:  there’s nothing there, apart from opportunistic exploitation of the tax law.  Upside of releasing returns: disarms the attacks.  Downside: it’s a weapon that can only be used once.  No matter what, Romney makes a lot of money and pays an embarrassingly small amount of taxes compared to average Americans pay.  Upside of holding on: he looks determined/stubborn in the face of opposition , slightly countering the extensive evidence of flip-flopping/etch-a-sketch.  Downside: his enemies have a mystery weapon they can hold against him.

Case 2: he paid 0% taxes in one or more years because of legal but unfair exploitation of the tax law.  Upside of releasing: it disarms the attacks.  Downside: the unfairness of tax law becomes a top issue in the campaign, with Romney a flag bearer for the bad guys.   Upside of holding: this doesn’t happen.  Downside: the attacks continue.

Case 3: he hasn’t tithed appropriately to his church.   He’s supposed to give 10%.  If he hasn’t done it, there may be some quid pro quo with the church or another Mormon politician, but for this case I’ll pretend there wasn’t.  Upside of releasing:  most people will see that there’s nothing really important there, although it’s very embarrassing for him.  The attacks are disarmed.  Downside: A lot of religious conservatives will look at him with some distain.  This won’t make anybody vote for his opponent, but it may make a bunch of his current supporters not vote at all.   Upside of not releasing:  these votes stay with Romney.  Downside: the attacks continue.

Case 4: he hasn’t tithed appropriately in return for some quid pro quo, presumably from someone connected with LDS.  This spreads the damage to people Romney may value and may lead to real jail time for them, while leaving Romney unscathed, except for failing to protect his friends.  Upside of releasing: None.  Downside of releasing:  Romney’s friends go to jail, blaming Romney.  Upside of holding: he keeps his friends.   Downside of holding: the attacks continue.

Case 5: Romney’s tax returns show evidence of some especially rapacious but legal behavior, most likely in connection with the economic crisis of 2007-08.  Economic upside of releasing: None.  Downside: Romney’s credibility as a businessman who plays fair is completely destroyed and he will become the face of the crisis and economic collapse.  he loses 48-50 states in the election.   Upside of holding on: this doesn’t happen.  Downside: the  attacks continue.

Case 6:  Romney’s returns show evidence of some crime by himself or those close to him:  Upside of releasing: none.  Downside: he or his close ally goes to jail.  Upside of holding on: this doesn’t happen and he maintains his determined look.  Downside: the attacks continue.


One of the big advantages of being president is that you get to pick your attorney general and federal prosecutors.  If you or those close to you are guilty of some crime, you can steer the justice department away from prosecuting those crimes.   It will go badly for such a president if he’s found out, and controlling the justice department may be the only way to prevent that.   This is almost certainly the reason Sheldon Adelson is so determined to buy somebody a presidency:  there’s pretty good evidence that he,personally, is guilty of violating the Foreign Corrupt Practices Act in Macau, against the advice of his lawyers, so it’s a knowing violation.

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