THE PUBLIC SUBSIDY of "private Equity" is an American Economy Gutting TRAGEDY
By William D. Cohan, Bloomberg 'news', Jan 22, 2012
[note: if Bloomberg put more insightful articles like this in their publications & financial info, we wouldn't have to use quotes '__' around Bloomberg "news"]
The real reason that private equity executives need to be [made into] full taxpayers -- paying [the full] 35% of their income in [to] federal tax as opposed to the 15 percent capital-gains rate they have enjoyed for years -- is not because, generally speaking, they make so much money.
Nor is it because the return they get on what personal capital they risk is dwarfed by the profits they get on their investors’ capital.
Nor is it so they will pay the same tax rates as their secretaries (although this is a good reason, too).
No, the real reason the tax loophole for private equity mavens must be closed once and for all is that American taxpayers subsidize the private-equity industry -- and its outsize paychecks -- and simple fairness demands that they do not also get an additional break in the form of lower tax rates.
Mitt Romney, the co-founder of Bain Capital LLC and the leading contender for the Republican presidential nomination, got blindingly rich because of this taxpayer subsidy, and it isn’t right that he and his cohort can also pay taxes at a 20- percentage-point discount compared with the rest of us... (cont'd)
Monday, January 23, 2012
Romney's "BAIN CAPITAL" another example of Rotchilds' modeled, 'Fed' Reserve bank's 'PRIVATIZED' WEALTH EXTRACTION and SUBSIDIZING the wealthy, at American taxpayer & citizen expense....
As Republican presidential candidate Mitt Romney's campaign crew is putting out TV ads lauding Romney's "private business success," and in particular how Romney's BAIN CAPITAL financial company "CREATED THOUSANDS OF JOBS" for working Americans, the American public needs to put down their pretzels, pop-corn, beer, soda, TV dinners, and movie tickets long enough to ask, "WHAT JOBS?!"