Good Grief! Is there any chance on God’s green earth that the IRS hasn’t already gone over Romney’s taxes going back to the birth of Christ and if anything was found would have been front covered in the NYT’s by now?
There is no possible scenario in which Mitt Romney “paid no taxes” for any of ten years, let alone a period of UNINTERRUPTEDLY failure to pay taxes for ten years.
If nothing else, something called “Alternative Minimum Tax” would have kicked in. But you may be assured, that any strategy that Mitt Romney used to avoid taxation was strictly governed by the revelant section of the admittedly highly confusing IRS tax code.
Certain bond issues, for example, are NOT subject to Federal income tax on the interest paid, as an inducement to invest in certain infrastructure improvements deemed to be of pressing need, thus making the lower interest rate offered a better deal than a higher rate of return subject to taxation. If Harry Reid does not like this little loophole in tax law, then write it out.
But look out for the backlash to that.