Pages

Jump to bottom

9 comments

1 simoom  Tue, Jan 17, 2012 3:14:32pm

Hmm, so he's going to wait till after the April filing so as to only release his next tax return? Doesn't he realize he's just making folks extremely curious what's in his 2010 returns (which this seems to avoid releasing)?

2 researchok  Tue, Jan 17, 2012 4:44:51pm

re: #1 simoom

I believe the dems don't really want to have the conversation either, and not just because of their wealthiest members.

Pensions funds are the largest investors in the stock market. Who wants to be perceived as beating up on widows and orphans?

Also, municipalities and utilities, for example, count on the low tax/non taxable returns to make their own infrastructure investments more attractive and to keep their costs lower. If there were no tax breaks for municipalities and utilities, they would have to compete on the open market and thus have to pay out more- and that gets passed along to the rest of us.

As for the stock market there is a risk/reward aspect that cannot be ignored. That said, perhaps a graduated scale might address the problem.

In terms of more equitable taxes, the individuals are not the biggest problem. It is the corporate entities that have gone offshore that are the biggest problem- trillions of dollars in tax revenue the government doesn't see.

3 simoom  Tue, Jan 17, 2012 5:13:59pm

Related:
[Link: www.theatlantic.com...]

Managers of private equity firms like Romney are often paid under an arrangement in which they receive both a set fee for their management, as well as a share of the profits that the firm makes for investors. While their management fees are taxed at normal income tax rates, the share of investor gains that go to a private equity manager (called "carried interest") are treated as capital gains, and thus taxed at a top rate of 15 percent. (Hedge fund managers and partners in real estate ventures also benefit from receiving carried interest.)

The argument for a lower capital gains rate is that it encourages investment. Whether that's true or not, private equity managers are allowed to pay the capital gains rate on the profits they make managing someone else's money, not for any risk that they take themselves.

...

Congress has attempted to close the carried interest loophole on a number of occasions, with the Democrats passing legislation to close it three times when they controlled the House of Representatives. But intense lobbying and Senate intransigence has kept the tax giveaway in place.

4 researchok  Tue, Jan 17, 2012 5:21:48pm

re: #3 simoom

True- but the deal only pays out in a big way only if the company profits.

Management has a vested interest in doing a good job in returning yields to investors- including those pension funds.

5 jc717  Tue, Jan 17, 2012 5:58:59pm

re: #4 researchok

True- but the deal only pays out in a big way only if the company profits.

Management has a vested interest in doing a good job in returning yields to investors- including those pension funds.

But those incentives would be there whether the carried interest was taxed at 35% or 15%... One could argue that there would be more incentive with a 35% tax... PE/Hedge Fund kings would need a bit more of a return to buy that third private jet.

6 researchok  Tue, Jan 17, 2012 6:15:56pm

re: #5 jc717

No argument here- but recall the jet manufacturers and their purchases get tax breaks, too. Their argument is if there were no tax breaks, there would be less product sold, hence fewer jobs, etc.

In fact, unions are some of the tax breaks biggest boosters.

7 Mostly sane, most of the time.  Tue, Jan 17, 2012 6:26:21pm

Is the sentence about the citizenship test a link inside the original article?

If not, I'm confused.

8 researchok  Tue, Jan 17, 2012 6:49:43pm

re: #7 EmmmieG

Just an ad link I missed. It's gone now.

TY for pointing that out.

9 calochortus  Wed, Jan 18, 2012 8:44:41am

By the way, that "small" amount of income from speaking fees is reported to be around $375,000 last year. A small percentage of his income perhaps, but I'd be happy with a total income of half that amount.


This page has been archived.
Comments are closed.

Jump to top

Create a PageThis is the LGF Pages posting bookmarklet. To use it, drag this button to your browser's bookmark bar, and title it 'LGF Pages' (or whatever you like). Then browse to a site you want to post, select some text on the page to use for a quote, click the bookmarklet, and the Pages posting window will appear with the title, text, and any embedded video or audio files already filled in, ready to go.
Or... you can just click this button to open the Pages posting window right away.
Last updated: 2016-01-01 10:29 am PST
LGF User's Guide RSS Feeds Tweet

Help support Little Green Footballs!

Subscribe now for ad-free access!Register and sign in to a free LGF account before subscribing, and your ad-free access will be automatically enabled.

Donate with
PayPal
Square Cash Shop at amazon
as an LGF Associate!
Recent PagesClick to refresh
Black Pumas - Fire (Official Live Session) Black Pumas’ debut album is available now - limited edition vinyl, CD and digital formats: smarturl.it FOLLOW BLACK PUMASTour Dates: theblackpumas.comFacebook: facebook.comTwitter: @blackpumasmusicInstagram: instagram.com Video Directed by Amos David McKayVideo Filmed at Arlyn Studios – Austin, TX LYRICSI’ve got ...
Thanos
5 hours, 52 minutes ago
Views: 78 • Comments: 0 • Rating: 0
Tweets: 1 • Share to Facebook
Sergio Mendes & Brasil 66 - Mas Que Nada (Introduced by Eartha Kitt / Something Special 1967)Sergio Mendes & Brasil 66 - Mas que nada, from Eartha Kitt's Something Special 1967.
Thanos
1 day, 5 hours ago
Views: 219 • Comments: 0 • Rating: 0
Tweets: 1 • Share to Facebook
Wes Montgomery - Here’s That Rainy Day - Live London 1965Stan Tracey (piano) Wes Montgomery (guitar) Rick Laird (bass) Jackie Dougan (drums)Television broadcast, "Tempo", ABC TV, London, England, May 7, 1965
Thanos
1 day, 5 hours ago
Views: 237 • Comments: 0 • Rating: 0
Tweets: 1 • Share to Facebook
Halsey - You Should Be Sad (Lyric Video) Halsey’s new album ‘Manic’ out now! halsey.lnk.toiTunes: halsey.lnk.toSpotify: halsey.lnk.to Apple Music: halsey.lnk.toAmazon: halsey.lnk.toGoogle Play: halsey.lnk.to Get tickets to #ManicWorldTour! Each ticket purchase comes with a physical copy of ‘Manic’.halsey.lnk.to Follow Halsey –Twitter: @halsey Facebook: facebook.com Instagram: instagram.comSpotify: halsey.lnk.toOfficial Site: ...
Thanos
1 day, 6 hours ago
Views: 220 • Comments: 0 • Rating: 0
Tweets: 0 • Share to Facebook
#Thegreatpoolpondconversion - 200119Yup, some are now calling it "The Pondathon" The boards we pounded in to the sump last week were not long enough to reach bottom.We didnt want to spend all day sunday on this and lose a day. And we ...
Dangerman (misuser of the sarc tag)
2 days, 19 hours ago
Views: 1,595 • Comments: 0 • Rating: 2
Tweets: 0 • Share to Facebook
Steve Martin and the Steep Canyon Rangers - California (Official Lyric Video) ​@Steve Martin and @Steep Canyon Rangers present "California"Get the song now via @Rounder Records found.ee Produced by RMV ProductionsAnimators: Matt Entecott and Tash TullyDirector: Peter ReeveInstagram: instagram.comTwitter: @RMVProdsFacebook: facebook.com Follow Steve Martin on Twitter: @SteveMartinToGoFor more info and tour ...
Thanos
3 days, 22 hours ago
Views: 471 • Comments: 0 • Rating: 1
Tweets: 2 • Share to Facebook
Penny Dreadful: City of Angels (2020) Official Teaser A spiritual descendant of the original Penny Dreadful story set in Victorian-era London, Penny Dreadful: City of Angels opens in 1938 Los Angeles, a time and place deeply infused with social and political tension. When a grisly murder shocks ...
Thanos
6 days, 2 hours ago
Views: 656 • Comments: 1 • Rating: 2
Tweets: 1 • Share to Facebook
Spiritual Groove 2.0 by Antoine Dufour#beastmode #antoinedufour #spiritualgrooveBeast mode battlefield version.You're welcome. Recorded on my Beauregard OM guitarI play DiMarzio PickupsI play Ernie Ball Strings
Thanos
1 week ago
Views: 811 • Comments: 0 • Rating: 0
Tweets: 1 • Share to Facebook
Lucy in Blue - Respire (Live on KEXP) kexp.org presents Lucy In Blue performing "Respire" live at Kex Hostel in Reykjavik during Iceland Airwaves 2019. Recorded November 5, 2019. Host: John RichardsAudio Engineers: Onundur Hofsteinn Pálsson, Kevin Suggs & Róbert Högni ÞorbjörnssonAudio Mixer: Kevin SuggsCameras: Alaia D'Alessandro, ...
Thanos
1 week ago
Views: 754 • Comments: 0 • Rating: 0
Tweets: 2 • Share to Facebook
the Darkness - in Another Life (Official Video) From the brand new album 'Easter Is Cancelled', also includes ‘Heart Explodes’, ‘Rock and Roll Deserves To Die’ & ‘How Can I Lose Your Love’. Order/stream the album now: thedarkness.lnk.to Follow The Darkness:Facebook facebook.comTwitter @thedarknessIG: instagram.com Starring: The Darkness ...
Thanos
1 week, 1 day ago
Views: 826 • Comments: 0 • Rating: 1
Tweets: 2 • Share to Facebook