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Didnt Mitt Romney shield a fortune from taxes by wrapping Bain Inc deals inside IRAs? Sounds kind of similar.

• drocer88 6y ago
  IRA withdrawals are taxable at income rates: 37% for that kind of jack. He's delaying rather avoiding. If he was really smart, he'd have done this outside of a retirement account and paid the 20% capital gains rate.
  • whitepoplar 6y ago
    He did it in a Roth IRA.
    • drocer88 6y ago
      Did he? All I can find is that it was a SEP-IRA : https://www.forbes.com/sites/forbesfinancecouncil/2018/08/03/mitt-romneys-retirement-account-makes-case-for-roth-iras/#34ff0702215a https://www.forbes.com/sites/forbesfinancecouncil/2018/08/03... "At the time, Mr. Romney was not able to use a Roth IRA to make these investments because his income tax bracket exceeded the allowable threshold."