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What does Mitt Romney really think about carried interest?
During Romney's failed campaign for the Republican presidential nomination in 2007, there was no mystery about Romney's thoughts on carried interest.
"With regard to carried interest associated with venture capital, real estate, private equity, I do not believe in raising taxes," Romney told an interviewer.
The candidate's position is much less clear this cycle.
The tax break, which benefits private equity partners, continues to save the Republican presidential candidate millions of dollars in taxes after a career at Bain Capital.
But this election cycle, even when asked directly, the candidate has not clearly articulated a position.
Campaign staffers have added to confusion over the candidate's position, occasionally suggesting that Romney would, once elected, consider rolling back the tax break.
At other times, the campaign has walked those suggestions back.
Carried interest benefits hedge fund managers, venture capitalists and private equity specialists, who are awarded a share of fund profits as compensation.
The profits, which often make up a substantial share of a manager's income, are taxed at the capital gains rate of 15%.
Ordinary income, which salaried workers receive in the form of a paycheck, is taxed at a top rate of 35%...
Romney made $42.7 million in 2010 and 2011. Of that, $12.9 million was carried interest.
Over the two years, Romney's effective tax rate -- the percentage of his income that he owed in federal income taxes -- was 14.5%.
http://money.cnn.com/2012/06/18/news/economy/romney-carried-interest/
During Romney's failed campaign for the Republican presidential nomination in 2007, there was no mystery about Romney's thoughts on carried interest.
"With regard to carried interest associated with venture capital, real estate, private equity, I do not believe in raising taxes," Romney told an interviewer.
The candidate's position is much less clear this cycle.
The tax break, which benefits private equity partners, continues to save the Republican presidential candidate millions of dollars in taxes after a career at Bain Capital.
But this election cycle, even when asked directly, the candidate has not clearly articulated a position.
Campaign staffers have added to confusion over the candidate's position, occasionally suggesting that Romney would, once elected, consider rolling back the tax break.
At other times, the campaign has walked those suggestions back.
Carried interest benefits hedge fund managers, venture capitalists and private equity specialists, who are awarded a share of fund profits as compensation.
The profits, which often make up a substantial share of a manager's income, are taxed at the capital gains rate of 15%.
Ordinary income, which salaried workers receive in the form of a paycheck, is taxed at a top rate of 35%...
Romney made $42.7 million in 2010 and 2011. Of that, $12.9 million was carried interest.
Over the two years, Romney's effective tax rate -- the percentage of his income that he owed in federal income taxes -- was 14.5%.
http://money.cnn.com/2012/06/18/news/economy/romney-carried-interest/