“..If Mitt Romney is looking for a loophole to close to help pay for his tax plan – he might want to look at one that helped him build his own retirement savings.
His freakishly massive retirement savings.
For now, the Internal Revenue Service is looking into the kinds of tax schemes that reportedly have helped Romney build what is certainly one of the world’s largest individual retirement accounts – the Wall Street Journal reports.
Laura Saunders at the WSJ’s Total Return blog pointed out Wednesday that a Treasury official recently wrote a letter to Congress – saying the IRS has for some time been “diligently” investigating the sorts of schemes that reportedly boosted Romney’s IRA.
Here’s the background: One of the many noteworthy things about Romney’s steroidally enhanced wealth is the unusually large size of his IRA.
According to Romney’s financial disclosures, his IRA is valued at between $20.7 million and $101.6 million.
The Washington Post recently pegged it at about $87 million…”
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