Romney Tax Break Rejected as Welfare for Rich in Investor Poll

[highplainsdem]

http://www.bloomberg.com/news/2012-01-26/romney-tax-break-rejected-as-welfare-for-rich-in-investor-poll.html

Most international investors say a tax break allowing private equity and hedge-fund executives to pay lower tax rates than many average Americans isn’t warranted, according to a Bloomberg survey.

As the release of Republican presidential candidate Mitt Romney’s 2010 tax return heats up debate over a 15 percent top rate on so-called carried interest, two-thirds of those surveyed in the Bloomberg Global Poll say the tax break is unjustified. The lower levy helped Romney, former head of Bain Capital LLC, pay an effective rate of 13.9 percent on $21.6 million of income, when the top income tax rate is 35 percent.

-snip-

Sixty-six percent of poll respondents worldwide said the break isn’t justified, compared with 21 percent who said it is and 13 percent who said they had “no idea.” Among those living in the U.S., 67 percent said the lower rate isn’t justified, versus 27 percent who said it is. The Jan. 23-24 poll of 1,209 investors, analysts and traders from around the world has a margin of error of plus or minus 2.8 percentage points.

The survey bolsters the position of Democrats who have pushed for years to eliminate the special treatment of carried interest. Romney’s use of the break has renewed scrutiny as President Barack Obama makes economic fairness a theme in his re-election campaign and studies show that income inequality has grown dramatically over the past quarter-century.

-snip-

[truthisfreedom]

1. Nelson moment...

[AzDar]

2. How effing GREEDY do you have to be to even propose this?

ugh.


ETA: maybe Romney's name should become synonymous with greed (ala Santorum)

[efhmc]

3. You really should work on that envy problem.

Yeah, right. I do envy people who say they are "out of a job" and get millions in interest and substantially less percentages of taxes than I do.

[FailureToCommunicate]

5. Rmoney* is a deleterious dork**

*DUer usrname
**DUer 99th Monkey

[AllyCat]

4. I read this headline to mean the opposite. Glad I read the rest of the post

This is not what I would have expected from this demographic. Wonder if I was biased, they have changed due to recent events (such as Occupy and the President's speeches), or both?

[elleng]

7. Foolish, imo, to assume 'this demographic,'

'international investors,' is not also reasonable and thoughtful people. SOME among them, surely, are greedy and only in it for themselves, but I suspect that most of them want and need to see economies succeeding, which they can only do, truly, with overall fairness and evenhandedness.

[AllyCat]

9. I know. That's why I kind of made the comment. Realize I was being prejudicial so this was an

interesting/eye-opening read for me.

Peace.

[Lucky Luciano]

11. Most of them don't have personal access to those tax rates...

that is why they think it is not fair. Most investors are not hedge fund/private equity managers - they may ork for those managers though.

[xxqqqzme]

8. I read it that way at first glance as well.

But it sent me on a different path - what is his tithe to LDS 10%+? Did as much go to LDS as the IRS? Just curious.

[malaise]

6. RMoney is a greedy entitled prick

The Presidency will only be his latest fugging toy.

Banish this fucker to the Cayman Islands

[robbob]

10. "Romney tax break"

I love that this tax break is now being so identified with Mitty; he will have to wear this around his neck for the remainder of the election cycle!