Thursday, July 19, 2012

Tax Return Hypocrisy: Pelosi, Reid Won't Release Their Filings

Democrats shouting the loudest about Mitt Romney’s reluctance to release his tax returns do not apply the same standards to themselves, according to a McClatchy News Service report.

Rep. Nancy Pelosi of California and Sen. Harry Reid of Nevada, the two Democratic leaders of the Senate and the House of Representatives, are among hundreds of elected officials from both parties who refused to release their tax records, McClatchy reported.

Pelosi said Romney was unfit to serve as President or even in the Cabinet because of his refusal so far to release all of his returns and Reid said Romney wasn’t even fit to be dogcatcher.

But just 17 out of the 535 members of Congress released their most recent tax forms or provided some similar documentation of their tax liabilities in response to requests from McClatchy over the last three months, the news service reported, indicating a double standard.

Another 19 members flat out refused and the rest didn’t even bother to respond to McClatchy’s request.

Pelosi aides flat out said no, saying she’s disclosed all that Congress requires.

“The leader has filed a complete financial disclosure report as required by law that includes financial holdings, transactions and other personal information,” Pelosi spokesman Nadeam Elshami told McClatchy.

The law, written by Congress, requires a broad financial-disclosure statement that offers no direct information on tax liabilities and no requirement for reporting spousal income other than the source – but not the amount – of any income above $1,000. There’s little way of knowing whether that spousal income is $1,001 or $1 million, McClatchy News noted.

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