Friday, August 10, 2012

Mitt Romney is Not a Tax Idiot

So says Mario Rizzo:
Let us begin with a famous quotation from Judge Learned Hand in a decision affirmed by the Supreme Court:

Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one’s taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.

Gregory v. Helvering 69 F.2d 809, 810 (2d Cir. 1934), aff’d, 293 U.S. 465, 55 S.Ct. 266, 79 L.Ed. 596 (1935)
Quite simply, I am really tired of hearing about Mitt Romney’s tax returns. Does Team Obama really want us to believe that if Mitt Romney took advantage of every legal option to lower his tax bill that he is somehow bad, out of touch with the majority of Americans, or unpatriotic (whatever that is supposed to mean)?

One of the worst “loopholes” from the point of view of economic efficiency and the revenue consequences is the mortgage tax deduction. This is the staple of middle-America and the American dream! And then there is the non-taxation of employer-provided health insurance, another highly distortive “loophole” and source of many problems in the healthcare market.

I am in no way arguing that the tax burden on middle-class Americans be increased. But I am saying that the two “loopholes” that do much of the damage to our economy are the ones that the many, many people take in their own interests. We do not begrudge them that, given that the tax law is what it is.

Suppose a friend of yours were to tell you that he is not taking the mortgage-tax deduction even though he entitled to it. Further, he is paying more tax than he owes (as he is explicitly allowed to pay down the national debt) as an offset to his employer-sponsored health insurance tax exclusion. What would you say to him? Most would say, “idiot.”
Of course, Rizzo is correct here, but that doesn't mean you should vote for Romney. He has no understanding of what liberty means. The man is a power hungry opportunist, who gave Massachusetts Romneycare..


  1. I read the title as "Mitt Romney is Not a Tax, Idiot".

  2. "Mitt Romney Is Not a tax Idiot"

    No, he is just an idiot.

  3. His is not an idiot, period. He's a Mafia don wannabe. Not all criminals are stupid.

  4. the same arguement can be made for warren buffett. some people begrudge him for only talking about paying higher taxes but not actually doing it. he's not an idiot either! he pays what he's legally obligated to pay under current tax laws, and not a penny more.

  5. All statists are hypocrites who want the barrels of the state's guns aimed at OTHER people. Romney is no different. The politicians who whine about being on the wrong side of surveillance and spying are no different. The Democrats who don't want to reveal their tax returns while bitching about Romney are no different.

    Regular Joe is no different either.

    For statists, every single one of them, from left to right, from poor to rich, the government is a mere weapon they want to wield to force others to do their bidding.

    Romney may try to pay as little taxes as possible, but does that make him anti-taxes? That's a joke. He just wants other people to pay them to fund his own preferred state activities.