Republican presidential candidate Mitt Romney has acknowledged that he had money in a Swiss bank account until 2010. Romney says he wasn't trying to hide the money, since he reported the account to the government.
Even so, he closed the account at a time when the federal government was in the middle of a major crackdown on offshore tax havens — a crackdown that has made it harder for Americans to hide their money overseas.
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A damaging analysis has worked out the implications of Mitt Romney's plan to change the tax code. Romney says if elected, he would cut taxes, and do it in a way that does not expand the federal deficit.