Patterico's Pontifications


Axelrod: Unlike Romney, Obama Doesn’t Use Tax Shelters

Filed under: General — Patterico @ 12:03 pm

At the verrry end of this Washington Times piece we see this:

Mr. Axelrod also hit Mr. Romney hard on taxes, pointing out that the United States loses $100 billion a year to offshore tax havens such as Switzerland.

“We know Gov. Romney takes advantage of these,” he said. “I’m not suggesting that he’s done anything illegal, but what I am suggesting is that he’s taking advantage of every loophole.”

“The president could do those things, but he doesn’t do those things,” Mr. Axelrod added.

April 13, 2012: Obama Sets Up Tax Shelter for His Kids:

President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday.

The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes.

There is nothing illegal about the president’s taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthy—“millionaires and billionaires” like himself—to pay less in taxes.

Time for Axerod to raise his own eyebrows!

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