Given that Romney is as liberal/progressives/idiots complain, giving the wealthy tax breaks much like Obama enjoys.. (Obama deducted the $48k he gave his daughters.."gift deduction)...what will those filthy 1% rich do with the tax savings? 1) Will they spend it on yachts,planes, more houses? 2) Even after spending more will they a) bury this excess money in the backyard? b) hide under the mattresses? What happens? Would you liberals/progressives tell me what happens with these tax savings? President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday. The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes. There is nothing illegal about the presidents taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthymillionaires and billionaires like himselfto pay less in taxes.