Well? Is this latest charge against Romney true or not? We shall see.
COLORADO SPRINGS - As he decries the negativity of campaign ads while on the stump in battleground states, President Obama should take a close look in the mirror. His campaign Thursday continued its vigorous pace of attacks on rival Mitt Romney, with a new TV ad alleging the presumptive GOP presidential nominee once participated in "one of the largest tax avoidance schemes in history."
"We do know that Romney personally approved over $70 million in fictional losses to the IRS as part of the notorious 'Son of Boss' tax scandal," the narrator says, "One of the largest tax avoidance schemes in history. Isn't it time for Romney to come clean?"
The ad refers to Romney's role as chairman of the audit committee for hotel giant Marriott International for six years in the 1990s. During that time, the company took advantage of complicated tax avoidance measures, including the so-called "Son of Boss" tax shelter which was later challenged successfully by the Justice Department and IRS. Romney, as an auditor, presumably knew about the practice.
The Obama campaign says the ad, which will air in Virginia, North Carolina, Florida and Ohio, fairly illustrates a pattern of behavior by Romney to minimize tax liabilities in his personal life and in business dealings.
"These questions are especially relevant given voters' heightened attention in this election to the fate of their own tax rates, and the central role tax reform will play in the next administration," said Obama campaign spokesman Ben LaBolt in a memo to reporters.