While most Americans struggle to put away $5,000 or $6,000 per year for their IRA, Mitt Romney somehow managed to build a $100 million IRA. Allegedly legal, but is it fair? Time after time, we see the 1% with extreme benefits of knowing the tricks and games of the system because they have the money and access to know. It's legal, but is it fair?
Americans facing declining wages, fewer services, higher college fees for their kids, less unemployment if they need it, yet the wealthy 1% people are wading in benefits. The class warfare discussion of 2008 overlooked the reality that yes, there was class warfare and the rich won the war they wanted by a mile. It's not even close.
To listen to Mitt Romney give a response that his tax hideouts around the world are legal according to US law desperately fails to address the real issue of fairness. Why can the 1% get away with this yet Americans who have to work for a living are blocked from similar benefits?
Even if you take Romney's word on the legality of his posh bank accounts, we won't know how legal or how fair they are until we see proof. Wasn't it Reagan who said "trust, but verify" many years ago? Or are we only allowed to repeat Reagan history when it is convenient?
Legal or fair?
Mitt Romney said there is "nothing hidden" in his tax returns that have yet to be released, responding to a question during a radio interview set to air later today regarding an onslaught of criticism from Democrats - including President Obama - on his refusal to be more transparent with his financial records.
"I don't manage them. I don't even know where they are," said Romney in an interview with Iowa Radio. "That trustee follows all U.S. laws. All the taxes are paid, as appropriate."
"All of them have been reported to the government," said Romney, adding, "There's nothing hidden there."
