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Response to sorefeet (Original post)

Thu Aug 30, 2012, 09:24 AM

9. "Gave away his inheritance"....Romney is talking about a tax dodging scheme...a lie as usual...

 

With respect to Mitt Romney's inheritance, Mother Jones recently reported an interesting nugget of information. It turns out that in an earlier interview with Reuters, Mitt Romney made an telling remark:

“What I got from my parents when they passed away I gave away to charity and to my kids.”

Mother Jones points out that just passing on inherited wealth is not quite the same thing as giving it all away or “not inheriting the money at all.”

The question then arises if perhaps Mitt Romney or his father used a dynasty trust, which is a generation-skipping estate-tax exempting device that the Wall Street Journal points out is used by quite a lot of wealthier individuals.

These trusts usually provide income to the children as well, though they can't use the principal which goes to the grandchildren.

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Arrow 14 replies Author Time Post
sorefeet Aug 2012 OP
JustAnotherGen Aug 2012 #1
bighart Aug 2012 #10
Jeff In Milwaukee Aug 2012 #2
uponit7771 Aug 2012 #3
jberryhill Aug 2012 #4
rfranklin Aug 2012 #5
reflection Aug 2012 #6
deutsey Aug 2012 #8
Jackpine Radical Aug 2012 #7
rfranklin Aug 2012 #13
LineNew Reply "Gave away his inheritance"....Romney is talking about a tax dodging scheme...a lie as usual...
rfranklin Aug 2012 #9
rfranklin Aug 2012 #11
Ganja Ninja Aug 2012 #12
piratefish08 Aug 2012 #14
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