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Sure it is legal. It is what corporate raiders that want to avoid paying US Taxes do. But really, as President? A Mormon Tax Dodger who ships $4 Million extra funds to the church to fight against civil rights, but parks untold millions off-shore to avoid sharing it with the US Government?
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Let him run for Profit of the Church. What if Europe crashes and the Republican wins the Presidency in a cake walk. Is Mittens the one you want?