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Politics : President Barack Obama
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To: Sr K who wrote (117218)7/20/2012 9:25:57 AM
From: Road Walker   of 149317
 
The highly leveraged private equity deals were set up so that the riskiest portions or slivers went into the retirement account. They happened to hit it big.

Since I posted that I've heard more info. The smart tax folks are saying that he probably VASTLY undervalued the assets he put into the retirement account, which would have been limited to $30K a year tax free contribution. That's how it got to the unbelievable $30 million to $100 million value, which the tax guys say s virtually impossible. And, of course, this is not legal.

It may be the key reason he won't release his returns... jail or at least huge penalties.
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