An article from Huffington Post Friday raises some interesting questions about the recent disclosure of Mitt Romney's tax returns. Apparently, Romney's returns show that he's parked many millions of dollars offshore, in the Cayman Islands in dubious partnerships, and in Swiss bank accounts.
Of course, as the Huffington Post article points out, this isn't so his money can work on its tan. He's avoiding taxes by taking advantages of loopholes in the tax laws that rich people paid Congress to make in the first place.
When you read the article, and I strongly recommend you do, pay particular attention to the postscript at the end. It questions how, given the annual limits on individual IRA contributions (around $35,000 per year), Romney managed to accumulate somewhere between $20 and $100 MILLION in his IRA. At $35,000 per year, that's a minimum of 571 years worth of contributions! Wow. Mitt doesn't look a day over 70.
I'll be accused again of having my tinfoil hat on, but I'll bet you dollars against dimes that in the very near future, we'll be finding out that there's some pretty interesting stuff going on in old Mitt's finances. I'd even venture to guess it might not be strictly legal... Stay tuned.