Romney may reconsider tax break that helped make him rich
As a private-equity fund manager, Romney benefited from the “carried interest” loophole that taxed much of his income at Bain Capital at 15 percent. Now it seems he’s willing to reconsider the tax break that helped make him rich, the Wall Street Journal reports:
If elected president, Mitt Romney might consider ending a tax break that helped the former Massachusetts governor accumulate his fortune, an aide suggested Tuesday. ... Lanhee Chen, the candidate’s policy director, indicated in a call with reporters the candidate might be willing to reconsider a tax break known as “carried interest” as part of a comprehensive tax overhaul. ... There are “a number of exemptions, deductions, credits, administrative treatment of income ... that would be addressed in tax reform,” Mr. Chen said.
The story notes that Romney praised the carried interest break for private-equity and hedge fund managers back in 2008