Romney Paid More Than He Owed
Mitt Romney’s tax returns tell us some things about him. They tell us a lot more about the sad state of the tax laws in this country.
What really stands out is the mind-numbing complexity of tax laws, and about how hard it seems to have been for even the high-priced help Mr. Romney can afford to get things right.
In one case, the trustee for one of the Romney trusts sent two letters to the Internal Revenue Service electing to use an apparently irrelevant section of the tax code, and in the process misstated the facts involved.
That mistake did not affect the taxes owed, but another error was more significant. It appears that the return filed by that trust overstated capital gains realized by nearly $300,000, causing Mr. Romney and his wife to pay about $44,000 more in taxes than they owed.
A President Romney would probably enter office knowing more about loopholes in the tax code than any of his predecessors, and could, if he so chose, be an effective advocate for reform. Whether or not Mr. Romney wins, the disclosure of his tax returns provides the rest of us with an insight into just how dysfunctional the system has become.
La seule solution: flat tax !