Romney avoided tax on 1999 dot-com riches with trust nicknamed, "I Dig It"

Jesse Drucker at Bloomberg reports on how, back in pre-dotcom-crash 1999, a trust Mitt Romney set up for his children and grandchildren returned a 1,000 percent return on the sale of shares in Internet advertising giant DoubleClick Inc. "If Romney had given the cash directly, he could have owed a gift tax at a rate as high as 55 percent. He avoided gift and estate taxes by using a type of generation-skipping trust known to tax planners by the nickname: 'I Dig It.'"