Gov. Romney argues, reasonably, that reducing the federal budget deficit must be a national priority in the next several years.
Although he has been unwilling to enumerate specific cuts in areas of federal spending, he has energetically promised to close unspecified tax “loopholes,” especially those exploited by the very wealthy.
Now here’s something upon which we can all agree: Mitt Romney knows something about tax loopholes exploited by the very wealthy. After all, according to the single tax return (2010) he has released to date, he managed to accrue “between 20 and 100 million dollars” in an IRA, a tax sheltering feat that for most of us would take hundreds of years, even with the magic of compound interest.
Let’s salute Gov. Romney’s financial acumen, and consider voting for him, if only he’ll release a few more years of tax returns.
That would help us evaluate whether he should be celebrated for his financial acumen or condemned for his cynical exploitation of the very loopholes whose closure he now argues will save us.
William Carlsen State College