Romney's Olympic tax deduction

>>> in tonight's "rewrite," mitt romney rewrites the definition of an olympic athlete.

>> i hear you've got an olympic athlete in the family.

>> isn't that something? yeah, it's not me. it's my wife, of course. she's the athlete, but in this case, it's not her personally, but she along with two other people purchased a horse and have trained it up.

>> she's the athlete. that's what mitt romney just said. she's the athlete. so what will the athlete in the family be doing in the olympics?

>> so she's quite thrilled and i'm sure she'll be watching. i have a campaign to attend to, so i won't be able to see it perform. but i'm very pleased for her.

>> that's right. the romney family definition of an olympic athlete is a person who participates in the purchase of an olympic athlete, in this case, a horse that the romneys own. now, mitt romney has always told the story of the family's entry into the breathtakingly expensive so-called support of dressage as a therapeutic option for ann romney 's multiple sclerosis.

>> dressage.

>> yes, the sport of dressage. not many people are familiar with, but something for which she has a passion, and frankly, her getting back on a horse after she was diagnosed with ms was able, she's convinced, to help her regenerate her strength and renew that vigor.

>> now, this is not in any way to make light of ann romney 's difficulty with ms, it's obviously a very difficult thing to bear. and there are a lot of things you can do to try to deal with ms, but, come on, dressage does not appear in any of the more traditional courses of treatment. and if it's true that dressage is how wildly rich people deal with this very difficult personal health problem, then why, why does the horse appear on mitt romney 's tax return as a business expense, that in 2010 produced a $77,000 business deduction. not a health care deduction, a business deduction for the romney limited liability corporation that owns the horse as a business. mitt romney was afraid to identify a single tax deduction that he would eliminate or reduce, but i think we can be sure that the olympic athlete in the romney family , the horse that masquerades as ann 's horse , but that is actually never ridden by ann would continue to be a fake deductible business expense if mitt and ann ever get to watch their olympic athlete on a tv in the white house .

>> when are you going to tell us where you're going to get the revenue can -- which of the deductions are you going to be willing to eliminate? which of the tax credits are you going to be -- when are you going to be able to tell us that?

>> well, we'll go through that process with congress as to which of the all the different the deductions and exemptions.