Amidst the controversy over Harry Reid’s claim that a Bain Capital employee told him Mitt Romney has failed to pay taxes over the past 10 years, President Obama has remained noticably silent.
A new ad entitled ‘Son of Boss’ released by Obama for America ominously questions whether Romney has paid 10%, 5% or 0% of his taxes.
The ad, which is specifically approved by Obama, also attempts to make a connection between Romney’s refusal to make his tax records public and the Son of Boss tax shelter scandal.
The Marriott family, owners of Marriott international, used the Son of Boss tax shelter from1993 to 1998, an action that the IRS labeled abusive. At the same time period, Romney sat on the Marriott board of directors, as he is friends with the Marriott family.
Because Romney was the audit chair at the time, he would have had to approve the transaction. The Obama for America ad uses this to insinuate that Romney may have also used the tax shelter, and that is the reason for his refusal to release his tax returns.