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The Big Story, By Joe Conason Mitt Romney's reluctance to release his tax returns suddenly makes perfect sense: According to a report filed by the ABC News investigative team late Wednesday, the Romneys have invested millions of dollars in offshore tax havens -- specifically, in several accounts domiciled in the "notorious" Cayman Islands. Headlined "Romney Parks Millions In Cayman Islands," an article on the network website notes that "he has used a variety of techniques to help minimize the taxes on his estimated $250 million fortune." Earlier this week, he admitted paying as little as 15 percent of his multi-million-dollar annual income in federal taxes. But the ABC report said that "in addition to paying the lower tax rate on his investment income, Romney has as much as $8 million invested in at least 12 funds listed on a Cayman Islands registry." A Romney campaign spokesman told ABC that the Cayman accounts had no effect on the tax liability of the candidate and his wife Ann. READ MORE | |||||||||||||||||||
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Featured Column: E.J. Dionne Members of the Tea Party insisted they were turning the GOP into a populist, anti-establishment bastion. Social conservatives have long argued that values and morals matter more than money. Yet in the end, the corporate and economically conservative wing of the Republican Party always seems to win. READ MORE | |||||||||||||||||||
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Keystone XL Raising the stakes in a bitter election-year fight with Republicans, President Barack Obama on Wednesday rejected a Canadian company's plan to build a continent-spanning, 1,700-mile pipeline to carry oil across six U.S. states to Texas refineries. Though the project promises thousands of temporary jobs for the recovering U.S. economy, Obama said a February deadline set by Congress would not allow for a proper review of potential harm from the $7 billion Keystone XL project. READ MORE | |||||||||||||||||||
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Super PACs This week, dubbed "Super PAC week" by the house comedian warming up the crowd before the taping of Tuesday night's "Colbert Report," has featured the satirist stretching campaign finance laws so far that, if the government actually enforced them, viewers might fear he'd end up in jail. By collaborating with a former chairman of the Federal Election Commission, Colbert has succinctly showcased the flimsy scrim of "independence" between candidates and the third-party groups that would buy their elections. As his friend Jon Stewart made a Super PAC ad insisting that a vote for Herman Cain in South Carolina was actually a vote for Colbert, he simply stood by -- grinning. READ MORE | |||||||||||||||||||
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Featured Column: Leonard Pitts Jr. War is a different universe. What seems acceptable there is appalling here. It is not too much to say that war is a form of madness. This is not to suggest those Marines in Afghanistan ought not be criticized -- no, this is only to suggest that our judgment be tempered by a recognition that these people have been in a place where the rules are different, that not every wound you carry out of such places is visible, and that in their way, the invisible wounds may be the costliest ones. READ MORE | |||||||||||||||||||
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Strange But True When Karen Garver met Rick Santorum, the man who would become her husband and father of her seven children, she was living with Tom Allen, an OB/GYN who co-founded Pittsburgh's first abortion clinic. Allen is 41 years older than Santorum, and in fact he was literally the first man she ever met when, as her mother's obstetrician, he delivered her in 1960. "Karen had no problems with what I did for a living," Allen said. "We never really discussed it." READ MORE | |||||||||||||||||||
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