Mitt Romney’s tax return problem

Ann Romney (L) introduces her husband, Republican presidential candidate and former Massachusetts Governor Mitt Romney, at a campaign stop in Bethlehem, New Hampshire December 22, 2011. REUTERS/Brian Snyder (UNITED STATES – Tags: POLITICS)

The folks at BusinessInsider.com point out that Mitt Romney’s biggest problem might be his tax returns. So far he has refused to release his tax returns and he reiterated that position in a recent interview with Chuck Todd.

Romney’s campaign team has clearly decided that the political risk of releasing the returns outweighs the potential problems of not doing so. No one knows for sure what the documents would say, but by the candidate’s own admission, the bulk of Romney’s retirement income from Bain has been from capital gains, which are subject to 15% tax rate.

That means that for the past 10 years, Romney has likely been paying a lower tax rate than most middle class voters. If this is the case, that information could be devastating to Romney’s presidential bid.

The issue of tax fairness is huge right now, and Romney might become the poster-child for that problem. Warren Buffet has famously come out strong on this, saying that it’s not fair that he pays a lower effective tax rate on his income than his secretary.

I think this is a huge problem for Romney. If he makes it to the general election, the Obama campaign and the Democratic PACs are going to hammer him on not releasing his tax returns. If that issue catches fire and he ultimately releases them, then the story is huge.

But it’s huge regardless of when he releases them. He might want to just get it out of the way and have a response ready.

Either way this one can be problematic.

Joe Scarborough and the Iraq War

Joe Scarborough just wrote a column for Politico in which he discusses the Iraq War. As he acknowledges in the article, he was a supporter.

Like 75 percent of Americans and most of Congress, I supported the war with Iraq. Much of that support was the result of selected intelligence from the Bush administration. The White House suffered a systemic breakdown, with a vice president and secretary of defense more focused on justifying a war than showing the type of caution our troops deserve before being sent to fight in a foreign land.

George W. Bush was also guilty of gross negligence, in part, by failing to reach out to the two greatest living experts on warfare in the Persian Gulf. Eight years later, it is still hard to believe that the commander in chief refused to seek the advice of his father or his secretary of state, who had run a searingly efficient military campaign a little more than a decade earlier — in the same region, against the same dictator. But as Bush told Bob Woodward, there was no reason to ask Colin Powell’s advice because he knew the general opposed the invasion. Bush 43 also told Woodward that there was no need to seek out Bush 41’s wisdom since he had his “Heavenly Father” to consult.

George W. Bush’s decision to remain isolated and willfully ignorant of these great leaders’ insights led to a disastrous war that could have been avoided. Instead, the invasion of Iraq was launched on March 19, 2003. And despite what media outlets and Democratic politicians would like you to believe, the war began with greater bipartisan support than the 1991 Gulf War.

I guess it’s nice to hear Scarborough acknowledge that he supported this fiasco, but this statement is somewhat misleading. Notice how he mentions that 75% of Americans supported the war. If you didn’t know Scarborough’s past, you might assume he was just one of many Americans who went along with the President. But he was much more than that, as he had his own cable show on MSNBC at the time, Scarborough Country, and he used that platform to become one of the loudest cheerleaders for the war. And, he enthusiastically mocked people who were against it. Joe Scarborough contributed to a climate that made it more difficult for rational voices who opposed the war and questioned the Bush/Cheney/Rove propaganda machine on WMD. He didn’t just go along; he helped lead the parade.

It was obvious to some of us that Bush was cherry-picking the intelligence. If you dug a little, there were journalists who were questioning the intelligence, but most people on network television and in the newsroom of The New York Times were either too stupid o

Effective ad against Gingrich

A super PAC supporting Mitt Romney has unleashed this ad against Newt Gingrich in Iowa. The focus on Newt’s “baggage” seems to be resonating.

Meanwhile, the PPP poll now has Gingrich in a free fall in Iowa, as he has slipped to third place.

Newt Gingrich’s campaign is rapidly imploding, and Ron Paul has now taken the lead in Iowa. He’s at 23% to 20% for Mitt Romney, 14% for Gingrich, 10% each for Rick Santorum, Michele Bachmann, and Rick Perry, 4% for Jon Huntsman, and 2% for Gary Johnson.

Gingrich won’t even spend time in Iowa, so I can’t imagine how he’s going to hold on against candidates who are betting their campaigns on the caucuses.

If this trend continues, you’ll see Santorum, Perry or Bachmann possibly get into the top three, so this race is still very fluid. Romney benefits from having the anti-Romney vote split up. The Iowa vote often breaks late, so anything can happen here.

The Radicalism of Newt Gingrich

How crazy is this guy?

Newt Gingrich loves to accuse his political opponents of being “radical,” and yet he tosses around radical statements on a regular basis. His latest comments on judges even have conservatives howling.

Now he’s talking about using the capital police or U.S. Marshals to arrest judges that he deems to be out of line. Here’s a statement to FOX News from Michael Mukasey, a former U.S. Attorney General under George W. Bush, who said Gingrich’s comment were “dangerous, ridiculous, totally irresponsible, outrageous, off-the-wall and would reduce the entire judicial system to a spectacle.”

The man is a complete buffoon, and it’s easy to see why the conservative establishment is horrified at the thought of this clown becoming the nominee.

Mitt Romney stumbles in last night’s debate

I didn’t watch the debate, but the clip above shows Newt Gingrich swatting away Mitt Romney’s attack the Newt is a career politician, whereas Mitt is a businessman.

Romney also got in trouble for challenging Rick Perry to a $10,000 bet.

Romney has generally done well in the debates, and yet he still couldn’t break through. Now that he’s slipping and Newt is surging, he picked the wrong time to finally have a bad debate performance.

Things aren’t looking good for him.

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