hypercrites

Two believeable, related explanations for why an IRA this size may be possible.   One from the WSJ, the other from TALKING POINTS MEMO:

http://online.wsj.com/article/SB10001424052970204468004577168972507188592.html

http://tpmdc.talkingpointsmemo.com/2012/07/romney-offshore-ira-tax-avoidance.php

What is Mitt Romney Hiding?
 
by Kenneth Thomas, BusinessInsider.com -- Jul. 5, 2012

 
Mitt Romney has so far released only one year of tax returns (2010), plus an estimate for 2011. This stands in stark contrast to his father, Michigan Governor George Romney, who released 12 years of tax returns when he began running for President in 1967. As his father said at the time, "One year could be a fluke." So the questions remain about what is in Romney's older returns.
 Two stories this week and last have ratcheted up the pressure. One is a recent web exclusive for "The Last Word with Laurence O'Donnell" where David Cay Johnston has five questions for Romney that can only be answered with his tax returns. [...]

 
"1. Did you buy any illegal or gray area tax shelters?"
"2. Did an IRS audit ever uncover serious problems with any of your tax returns?"
 
"3. Did you make use of offshore vehicles to defer, or avoid paying, federal income taxes?"
 
"4. Did you take advantage of any tax strategies that the IRS did not uncover in audits?"
 
"5. Did you fully tithe to the Church of Jesus Christ of Latter Day Saints every year and take a deduction on your tax return that shows that?"
 These are important questions. We know that Governor Romney has had a Swiss bank account, as well as money in other tax havens like the Cayman Islands, Luxembourg, Bermuda, and Ireland. Romney's answer to any question about his taxes has basically been, "Trust me." But the guy's running for President, for Pete's sake. He owes us more than that.
 [...]
http://www.dailykos.com/story/2012/07/05/1106663/-What-Question-would-you-ask-about-Romney-s-Finances