No law requires presidential candidates to release their tax returns, but history does. President Obama’s re-election campaign is pressuring their Republican challenger Mitt Romney to release more of his tax returns. He has released one year, and one estimate's worth thus far. That should suffice, says the Romney camp.
When then Sen. Barack Obama ran against Hillary Clinton in the 2008 Democratic primary, his campaign similarly pressured her to release tax returns. A month after Obama released six years of returns, Clinton followed suit. The 2008 Republican nominee Sen. John McCain released two years of tax returns that year as well.
Going back to 1996, Republican Sen. Bob Dole released 30 years of tax returns ahead of the election, and in 1992 Bill Clinton released 12 years of tax returns (although critics said it wasn't enough). On and on it goes: Michael Dukakis released five years of returns when he ran in 1988, and George H.W. Bush forced Ronald Reagan's hand as both released their returns in the lead-up to the Republican nomination in 1980.
PolitiFact found only seven presidential or vice president candidates since 1976 have refused to release any tax returns. Romney is not among them, though he was in 2008. Those seven include five Republicans, one Democrat, and one Green Party: Jerry Brown, Pat Buchanan, Mike Huckabee, Steve Forbes, Rudy Giuliani, Richard Lugar, Ralph Nader.
Many have pointed out that it was George Romney (Mitt's dad) who started this trend when he released 12 years of tax returns in November 1963, a full year prior to the 1964 election, saying one year just wouldn't be enough.
And that's where the debate is centered now. While history demands that presidential candidates release their tax returns to the public in a sign of transparency, the record is less clear when it comes to how many years are necessary to establish some semblance of good faith.
The problem for Romney is that the media, his main challenger (Obama), and the public have remaining questions over his wealth and earnings that were not answered through the release of one tax return. It's likely he'll be forced to reveal more before November.
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Barrys arch enemy: Someone who is successful. He hopes that hammering away with this class warfare drivel will win him some votes, but it's gonna be a landslide for Romney.
So I guess Warren Buffet is Obama's arch enemy? And your "landslide" prediction is not backed up with any polls, even those historically leaning GOP. But, hey - nice try!
Good point Frank. Clearly the most powerful man in the world is going to envy the success of a man who just one decade ago was the temporary head of a regional Olympic committee.
But I'm a little confused. If Romney is the successful one, why does he wan't Obama's job so badly?
Ronmey landslide my ass. President Obama will eat Mitt for lunch during the debates. Romney can't keep a trained thought when he's at the podium by himself. That tends to happen when every other word out of your mouth is a lie. This isn't about beating up the wealthy. This is about accountability. If Mitt wants to buy the Presidency with the help of the Koch Brothers, he's gonna have to pony up a facts about how he made all that money. Mitt's no rocket scientist. It doesn't take a genius to turn millions into billions.
OBAMA 2012!
Compared to the average American, they are all rich. I think by seeing how rich shows how out of touch they are with average America. And that they are not hiding something. Makes me wonder...