Harry Reid recently suggested that GOP presidential hopeful Matt Romney may have paid an effective 0 percent tax rate for at least 10 years. Those rumors have not been substantiated, but that has not stopped the Obama administration to go on the offensive with Reid’s accusations.
In a new ad campaign the Obama administration begs the question:
“Did Romney pay 10% in taxes? Five percent? Zero? We don’t know. But we do know that Romney personally approved over $70 million in fictional losses to the IRS as part of the notorious Son of Boss tax scandal, one of the largest tax avoidance schemes in history.”
Mitt Romney has already come under fire for paying a tax rate below 14 percent and for helping the Marriott hotel company avoid taxes through “complicated tax avoidance” measures over a six year period. During the Marriott period, Romney sat on the company’s audit committee.
In the meantime, the Romney campaign is calling the 0 percent tax rate issue a complete fabrication that is “dishonorable and dishonest.”
The Obama administration has recently been on the defensive to rebuttal any claims by the Mitt Romney camp that President Obama is attempting to end the work requirement for welfare recipients.
Here is the full 0 percent tax bracket attack ad provided by the Obama administration.
This political battle is already gearing up to be one of the messiest on record.
Would you vote for someone if you found out they were legally avoiding tax payments through complicated tax loopholes that their own friends in office helped create?