Posts Tagged ‘UBS’

Romney’s Tax Returns Revisited

Thursday, July 19th, 2012

How Credible?

Let me begin by saying that the veracity of the people involved in “reporting” this story is suspect, and as a consequence, I am bringing the story to you on the assumption that it is probably garbage. Nevertheless, if it should turn out to have some basis in fact, it would be an electoral disaster for the GOP if disclosed in late October, for instance, and having encountered it, I would be remiss if I failed to at least mention it.  Catherine Crier, who I don’t see as a particularly credible source, was on the race-baiting moron’s show(Al Sharpton) on MSNBC.  She admitted it was sheer speculation, but I bring it to your attention precisely because this is the sort of thing about which many conservatives have worried with respect to Mitt Romney’s candidacy.  We’ve been told he’s “squeaky clean,” and that may well be the case, but the Democrats are driving at this Tax Return disclosure business relentlessly.  Crier suggests that Mitt Romney might have been one of those who took amnesty in order to stay out of legal jeopardy back in 2009, when Barack Obama put the IRS on the trail of Americans with undisclosed Swiss bank accounts.

What I found peculiar at the time was the focus on a single banking entity.  When the government does something of that sort, they’ve either been tipped-off, or they have a specific target in mind.  Of course, we are talking about Catherine Crier, appearing as a guest on Al “Tawana Brawley” Sharpton’s show on MSNBC, which is to say that it isn’t exactly iron-clad, and Crier in no way offered a source, but the theory was advanced on Slate on Tuesday and over at the ludicrous HuffingtonPost as well. HuffPo is continuing its coverage as I write this.

Here’s video of Crier on Sharpton’s circus(H/T Mediaite):


Let us imagine for a moment that all of this were true.  What would it mean to the elections?  If disclosed now, I don’t see how Romney would avoid withdrawing from the campaign.  If disclosed post-convention, this would simply cause the end of the GOP’s hopes of capturing the Presidency in 2012, and would almost certainly ruin the down-ballot prospects of retaking the Senate or strengthening in the House, with Romney going down to flaming defeat.  If disclosed after a Romney victory, it would dog him throughout his Presidency, and the Democrats would spend the entirety of his term agitating for his impeachment.  Of course, Democrats would do that in any case, but there’s no sense giving them ammunition.

As is clear, conservatives should view this allegation with the appropriate skepticism.  The source of the information is far too unreliable to be taken all that seriously, never mind at face value.  Still, it should be a concern, and it is one of the reasons that early in the primary season, I was pushing for the disclosure of Romney’s tax returns.  He ultimately provided two years, being the 2011 and 2010 returns.  The return that would reveal whether he had been one of those accepting an amnesty deal from the IRS would have been from 2009, so we do not know with certainty.

We also know the Democrats want ammunition to use against Romney, and that in part, this demand for more years of tax returns is primarily a fishing expedition, and an attempt to get him to disclose that which might hurt him.  He doesn’t need to have done anything illegal, but simply something Democrats can paint as morally questionable or hypocritical.   That would be enough to severely damage the Romney campaign.  That said, I wouldn’t be inclined to comply with the Democrats’ demands for additional disclosures, particularly if I hadn’t anything to do with the allegations Crier tried to imply.  Here is the problem, however, and it is the only nugget in all of this that would suggest there could be some actual smoke, if not fire:  Back in January, when Romney disclosed his 2010 return, it included a disclosure of a Swiss bank account.  That account was indeed with UBS, the bank that had been examined and bullied by the IRS into disclosing some 4,400 American customers. BusinessInsider is now carrying the story, and they’re pushing it further still.

Ladies and gentlemen, this is why I urged the release of Romney’s returns following his father’s example, way back in January.  If there is any connection here, Romney might well be able to conceal it a while, but I would fully expect this to become Obama’s “October surprise,” his last hole-card.  Even if it were true, Romney wouldn’t have violated any laws, because he would have accepted the amnesty to avoid legal consequences, but I must also say that if he actually has this problem, and if Obama’s campaign leaks it to the press in the closing days of the campaign, Mitt Romney will not be elected.  There will be no time to spin it, soften it, or clear up the fact that he had ultimately complied with the law.  Instead, it would be a 24×7, non-stop “Breaking: Romney is a Crook,” with the media fairly jeering on Obama’s behalf, and the Obama administration would have its second term.

This explains why the Democrats are on this fishing expedition, but then again, if it is true, the Obama campaign already has that information, and is sitting on it for the big ambush in late October.  I can understand why Governor Romney wouldn’t want to disclose his tax returns, even if he had done absolutely nothing wrong, but the problem here is that if it were true, and if such a disclosure were to occur late in the campaign, we would have no viable horse for this race, and we will see Obama destroying the country another four years.  Of course, Governor Romney doesn’t need to release his entire 2009 tax return. In my view, if he wants to answer any question, this would be it: “Did you accept amnesty under the 2009 Voluntary Disclosure Program?”  Naturally, even if he answers “no,” there are those who will play up the “denial,” but here’s the other problem:  Given the sorely lacking credibility of the sources in this story, and on the highly dubious proposition that Romney does has some “splainin’ to do” with respect to this so-far unfounded accusation, should Obama catch him out in late October, the Republican Party will burn, and I will be among those wielding torches.

When you consider all of this, you might wonder why I’d report it at all, but my reasoning is simple:  The Republican Party has exhibited a habit of snatching defeat from the jaws of victory, and with all that is at stake in this election, I’m now accustomed to being disappointed by the GOP establishment.  With all of my friends who have swallowed their pride and grudgingly gone along with Romney for the sake of defeating Obama, if Mitt blows it now over something like this, there will be literal Hell to pay.  I am in no way willing to take the word of this collection of leftist ghouls for anything, but ladies and gentlemen, trust Mitt Romney if you please, but I’ll be keeping an eye on this.  I fully recognize the Obama campaign’s desire to trap Romney with this, but I also know that if there’s anything to it, I don’t want my readers to be blind-sided in October.  If Romney can refute this, he should, because while it would never alleviate the clamor in the press, it would at least put at ease the minds of those he expects to support him in November.