Remember when all the Republicans got outraged and called Harry Reid a "dirty liar" for saying that Mitt Romney hasn't paid taxes. Guess what, you GOP pearl clutchers?
Bloomberg finally cracked the story...
Using a tax shelter called a CRUT (charitable remainder unitrust) that was held by the Church of Latter Day Saints (Mormons), Mitt Romney was able to pay zero taxes (legally) every single year from 1996 to 2009. Why did he stop in 2009? Because he would make public his 2010 tax return, that is why.
Say it with me now, you pathetic scum-sucking hypocrites: MITT ROMNEY PAID NO TAXES FOR (MORE THAN) TEN YEARS!!!!!
So I'm sure that Reince Priebus, in his ongoing effort to represent the GOP with integrity and class, will be the first to apologize to Harry Reid.
Right?
Right?
UPDATE: Several readers have pointed out that the original Bloomberg article does not say that Mitt Romney paid zero taxes as a result of taking advantages of this CRUT loophole, although it has been reported as such in international publications. I was originally given the information through a Dutch friend of a headline article in her local paper. The facts--since Romney has refused to release his tax returns--are less sure. There is little doubt that Romney used a complicated system of international tax havens, loopholes, charity trusts and CRUTs for major tax avoidance. The specific amount he paid in tax--be it zero or the 13 percent he insists--is not absolutely known. I regret the mischaracterization.
