Mitt Invokes the Popeye Defense

The cartoon character Popeye the Sailor Man (I know, I ‘m showing my age) used to say, “I yam what I yam.”

And this morning, when questioned about his Cadillac reference, Mitt Romney told Chris Wallace “I just am who I am.”

I’m not a Mittens fan, but I think the Cadillac flap is silly.  We know the guy is worth at least $250 million.  People own stuff (houses, cars, boats, jewelry, art, etc.) that reflects their income and their net worth.  The two Cadillacs aren’t even top-of-the-line Escalades, such as Newtie owns.

We have bigger fish to fry with Mitt.  He still hasn’t clarified if his Cayman Islands accounts helped him avoid the Unrelated Business Income Tax (UBIT) on his IRA, for example, a question first raised by Talking Points Memo and picked up by the NYT.  I’m much more interested in tax avoidance schemes than in how the super rich spend the money left after they pay what they owe.

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