Diary

Romney Hints at Raising 'Carried Interest' on Investments

First Romney says he won’t Repeal Obamacare, now its interest income and of course then comes the flip flop.

Question, is Romney passing an open secret by leaking something to entice voters then pulls back or is he communicating his intentions if he wins 2012? It cuts both ways considering the unstable platform and lack of integrity couple with a clearly moderate record in office. Clearly he’s not a Reagan Bush supporter.

http://www.newsmax.com/InsideCover/romney-carried-interest-gingrich/2012/01/25/id/425538?s=al&promo_code=E04C-1

If elected president, Mitt Romney might be willing to end the “carried interest” provision in the tax code that helped him amass his estimated $260 million-plus fortune, according to a campaign aide.

Lanhee Chen, the former Massachusetts governor’s policy director, told reporters on Tuesday that Romney could consider ending the tax break as part of a comprehensive tax overhaul — a move that would significantly raise taxes on many American investors.

But later in the day, the Romney camp “tried to step back” from the aide’s remarks, stressing that Romney doesn’t want to raise anyone taxes, The Wall Street Journal reported on Wednesday.

The carried interest provision gives private-equity and venture-capital executives a relatively low 15 percent capital gains tax rate on much of their income. Carried interest is a share of profits from an investment fund or partnership given to managers as compensation. Romney took advantage of the tax break as founder of private-equity firm Bain Capital.