It is one of most striking elements of Mitt Romney’s financial fortune. He has used the seemingly bland investment vehicle known as an Individual Retirement Account - established by Congress to help average Americans save a modest amount for retirement - to shield at least $20 million and as much as $100 million from initial taxes. Romney has refused to provide details other than saying that he followed IRA rules like any other American. But Romney associates with direct knowledge about the matter said that Bain Capital partners used their IRAs like a pool of investment money, enabling them to make personal investments in the same deals that Bain had already approved.
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