How Romney got around the gift tax
While Mitt offers reform in deductions as a way of paying for his proposed seven trillion dollars on new spendng, the REAL issue is not deductions but the way the 1% get to sue business expenses to offset their income. For his aprt, Mitt had over $10 million ion non taxable income last year!
Bloomberg’s Jesse Drucker reports on Mitt Romney’s use of the tax code to save millions in gift taxes, which has boosted his children’s inheritance. Read more at Counterparties