Mitt Romney has made the calculated decision to withhold his tax returns from public disclosure, flouting a tradition among Presidential candidates that was started by…oh right, George Romney.
George Will has pointed out that, “The costs of not releasing the returns are clear. Therefore he must have calculated there are higher costs in releasing them.” And the problem is probably from the 2009 return, because he was comfortable with releasing his prior returns in 2008 when he sought to be McCain’s running mate.
We already know from the one return he did release that he claimed a $77,000 loss on his pet horse (FYI, conservatives are bashing this story because Romney only received a $50 tax break on this last year, but that over-simplifies the issue — this loss is actually carried over to future years meaning Romney could well write-off the whole $77,000 in the future if the horse fails to make money).
So let’s start speculating: What’s in his 2009 return?