Social Question

wundayatta's avatar

Will Romney file for the rest of his 2011 tax refund if he loses the election?

Asked by wundayatta (58326 points ) September 25th, 2012

So Romney didn’t use several million in charitable contributions as deductions on his 2011 tax return because it would have brought his tax rate below 13 some odd percent. He has promised that he always paid more than 13% and this is what he had to do to make it true.

Of course, he can always file an amended return later, and claim the money he is legally entitled to. Then his tax rate will go below 12% or something. Lower than what he claimed, anyway.

So if he loses the election, do you think he will file an amended return? Why or why not? And if he does, will there be any political fallout?

For extra credit, if Romney loses, is his political career over?

Observing members: 0 Composing members: 0

6 Answers

elbanditoroso's avatar

What you are asking is -

if he loses the election, will he confirm that he is a hypocrite, instead of just letting everyone suspect that he is?

I doubt he would – he won’t miss the $$ saved, and he has already stuck his neck out calling attention to the action.

To answer your final question – YES – his career is over. And he won’t have political friends anywhere. (not that he has a lot now)

JLeslie's avatar

I don’t think he will bother. Either to try to perserve some bit of integrity, or maybe because the Republican party would suffer slightly if he did do it.

I don’t think he will ever run again.

tedd's avatar

I would if I were him.

In all reality if he loses this election he’s not going to ever be elected president (few failed bids go at it again, especially in recent years). I doubt the tax issue would be big enough to stop him from landing a more regional or local office if he wanted to go that route, maybe slow him but not stop him from getting an office. So yah, I would definitely amend those returns and get the money if I were in his shoes and lost the election.

rojo's avatar

Yes, I would if I were in the same situation GO FAIRTAX !!!

glacial's avatar

They are the same question. If Romney considers his career over, of course he will file for the rest. If he plans to run again, then he will abstain. Though, really – how could he hope to run for president again?

I think if he wants to run for a lower level of office, the tax return issue will probably not matter. Filing for a few extra million will not hurt him as much as an endless loop reel of his mis-steps during the presidential campaign.

zenvelo's avatar

If he amends his return, no one would ever know unless he discloses it. Tax returns are private matters, there are severe penalties for IRS agents that violate privacy laws.

It wouldn’t surprise me in the least if he did.

Answer this question

Login

or

Join

to answer.
Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther