Among all the businesses that come and go from the headlines, Bain Capital is one that will not be escaping coverage any time soon. President Obama’s campaign continues to pressure Romney to release full tax records. Romney and his campaign say that this tactic is merely a distraction from the real issues and that Romney has shown what he’s needed to.
So what’s really going on? How will Romney move forward with the Democrats growing demands for his tax records? Or is this simply a distraction from President Obama tackling other campaign issues? Todd Zwillich, Washington correspondent for The Takeaway, explains the heated battle.
"The Bain Capital story has been an ongoing narrative that the Obama campaign has been building for many, many months. In fact, this was going all the way back to the primary," Zwillich says. The main difference now, however, is that Romney's name has appeared on SEC filings multiple times from 1999 to 2001, which contradict Romney's assertions that he and the firm parted ways in 1999.
Zwillich says that even if the Obama campaign's accusations turn out to be baseless, the media's scrutiny of the issue has still worked to its benefit.
"I've talked to Democrats about this, [and] they would love to have [Romney's] signature [next to an order to outsource jobs], if that even exists," he says. "However, if they never get to that, we're still talking about this."
"Instead of talking about jobs and the economy or talking about Mitt Romney's record or credibility, this goes to another issue on the Sunday shows, which is Mitt Romney's tax returns, tax havens in the Cayman Islands, and Swiss Bank accounts," Zwillich says. "[It draws attention to] all of the issues about whether Mitt Romney's fit to lead in an economy that's recovering, and not President Obama's record."