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Wednesday, December 7, 2016

David Cay Johnston explains how Mitt and Ann Romney manage to pay zero dollars in gift taxes on their sons’ $100 million trust fund in his column, “Romney’s Gift From Congress:”

When the Romney campaign disclosed in December that the couple’s five sons had a $100 million trust fund, I suspected that, in setting up the fund, the Romneys used a tax strategy that allows some very rich people to avoid paying gift taxes. But it was impossible to know if this was the case without seeing their tax returns going back years.

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