Romney released 23 years of taxes to 2008 GOP nominee John McCain so he could be considered as a vice presidential nominee.
"John McCain's people looked at it and went with Sarah Palin" as the No. 2 on the ticket that year. "Whatever is in there is far worse than the first year," Emanuel said. "The Romney campaign isn't stupid. They have decided that it's better to get attacked on a lack of transparency, lack of accountability to the American people, versus telling you what's in those taxes."
Romney has refused and says that no amount of disclosure would satisfy his critics.
But some in his party said the debate over Romney's wealth is distracting from the campaign.
"He should release the tax returns tomorrow. It's crazy. You've got to release six, eight, 10 years of back tax returns," said conservative Bill Kristol, joining the Republicans who want to turn the page on stories about Romney's vast personal wealth. "Take the hit for a day or two."
Unless, as Obama's team hints, the returns prove disqualifying.
"The costs of not releasing the returns are clear," conservative columnist George Will said. "Therefore, he must have calculated there are higher costs to releasing them."
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