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This sounds plausible, since the only way he could have an IRA worth between million and 0 million, which can only happen if he undervalued the assets he put into it.
I used to think that he couldn't have done anything that underhanded, or he would have gotten caught. There are two things that I find intriguing or convincing in this debate.
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I don't know how much this has been covered in other threads, but I keep seeing news stories about how Romney only released tax returns from the past two years, and how people keep urging him to release more, including many Republicans urging him.
That sounds like an argument he should release the returns.
If everybody already has a general idea what's in them and the public doesn't care, why allow the Obama campaign to keep hitting him with 'Mitt Romney keeps his money overseas and won't release his tax returns' ads?
It's consistent with his campaign's strategy of not acknowledging that there is any other issue than the incumbent's performance in office.
The public is supposed to be vetting him for the presidency.
I think the most likely theory is that he paid a very low tax rate (like low single digits) for several years.
The latest story is that Harry Reid said that a Bain investor told him that Romney hasn't paid any taxes in 10 years (story here (
This seems incredible and somewhat unlikely to me, but it can't be definitely refuted since Romney hasn't released his tax returns.