The UK Daily Mail has the story Presidential candidate Mitt Romney owns offshore company which means he could be even RICHER than the estimated $250million.

The use of offshore companies such as Sankaty is allowed under U.S. tax laws. They are typically set up as shell corporations by private equity and hedge funds to route investments from large foreign and institutional investors, such as large pension plans, into corporate takeovers.

The money is used to provide equity and buy up debt. In turn, the investors gain U.S. tax advantages by passing their funds through the offshore ‘blocker’ corporations, avoiding a high 35 per cent tax on earnings that the Internal Revenue Service describes as ‘unrelated business income.’

This story has details of tax dodges that most of us could never even imagine.  If Romney and his ilk were not so adept at using their financial clout in Congress to mold the tax laws to their liking, they would not be nearly as rich.  It is easy to win a game by following the rules scrupulously, when you, yourself, make up the rules to follow.

If members of Congress cannot be convicted of accepting bribes for enacting this tax treatment, then perhaps they could at least be convicted of conflict of interest.  Who do you suppose is going to bring these charges and prosecute the cases?