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Mitt Romney Has a Hefty Retirement Account

Bain investments may be tax-free.

The Wall Street Journal reports that Mitt Romney's retirement account holds between $20.7 million and $101.6 million. Although regular IRAs are unlikely to grow so large, Romney apparently accumulated his massive retirement funds from investments in Bain Capital, on which he's not required to pay taxes. Typically, such investment gains will build up tax-free until they are withdrawn. Tax experts speculate that Romney may have deposited funds offshore to avoid paying a tax required for investing an IRA in private equity.

Read it at Wall Street Journal

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