Mitt Romney Avoids Taxes With Trust Designated To Mormon Church

Romney Tax Avoidance Scheme Revealed
FILE - In this Oct. 23, 2012, file photo, Republican presidential candidate, former Massachusetts Gov. Mitt Romney speaks to a crowd of supporters during a rally in Henderson, Nev., as he holds up 4 fingers and asks if they want 4 more years of a bad economy. No region in America has seen more presidential campaign commercials. Last week alone, Romney's campaign and its allies spent $3.6 million on Nevada commercials, while President Barack Obama and his supporters spent $2.7 million. (AP Photo/Julie Jacobson, File)
FILE - In this Oct. 23, 2012, file photo, Republican presidential candidate, former Massachusetts Gov. Mitt Romney speaks to a crowd of supporters during a rally in Henderson, Nev., as he holds up 4 fingers and asks if they want 4 more years of a bad economy. No region in America has seen more presidential campaign commercials. Last week alone, Romney's campaign and its allies spent $3.6 million on Nevada commercials, while President Barack Obama and his supporters spent $2.7 million. (AP Photo/Julie Jacobson, File)

In 1997, Congress cracked down on a popular tax shelter that allowed rich people to take advantage of the exempt status of charities without actually giving away much money.

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