A friend who supports another Republican presidential candidate says I’ve missed the point about Romney’s tax returns:
Even leaving aside the question of whether passive partnership income is true capital gains or just a gift to hedgies, here are some facts:
McCain: tax returns 2006, 2007.
Obama: 2000-2006
Bush, Dole: each one year
George Romney (!): 12 years!
So why is Mitt saying he’ll release just the past year? Was there a transfer of funds to his wife’s control? Did he forgo residual partnership income from Bain once he officially announced for President (April 2011 exploratory, June 2011 official announcement)? Only way to find out is for him to release 2010 and 2011—and probably 2009 as well.