Romney under pressure over tax returns

Mitt Romney’s campaign was left on the defensive this week, after the Obama campaign launched a series of attacks on his business record.

What happened

Mitt Romney’s campaign was left on the defensive this week, after the Obama campaign launched a series of attacks accusing Romney of outsourcing American jobs abroad at the private equity firm Bain Capital, lying about his role at Bain on SEC documents, and hiding the truth about his personal finances. Romney had defended himself against the outsourcing charge by saying he left Bain in 1999, but The Boston Globe reported that Bain filed documents showing Romney receiving a six-figure salary as CEO until 2002. Romney’s campaign explained that discrepancy by saying he’d “retired retroactively” from Bain, after leaving to run the Olympics in Salt Lake City. Political pressure for Romney to disclose more than one year of his tax returns, meanwhile, intensified when an Obama campaign ad showed Romney singing “America the Beautiful” while mocking his tax shelters in the Cayman Islands and Bermuda.

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