Mitt Romney and His Mysterious $102 Million IRA

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This morning I blasted Harry Reid for inventing a story about a mysterious informant who told him that Mitt Romney hadn’t paid any income taxes for the past ten years. One reason for thinking that Reid invented this is the sheer implausibility of Romney avoiding taxes for an entire decade. One year, maybe. Two years, still a possibility. But not ten.

I’m sticking to my guns on this, but there’s now a sliver of doubt. Today, for the first time that I know of, someone has produced a reasonable-sounding scenario that explains how Romney might have paid either zero or close to zero in income taxes for eight years. It’s related to Romney’s $102 million IRA, something that’s been tantalizing us ever since it showed up in his 2010 tax return. You can read it here.