Posted on 01/13/2012 1:51:50 AM PST by Cincinatus' Wife
This is an article about carried interest, which is a certain partner — usually a working partner — to get a disproportionately large share of the profit from a venture. It is not unusual and has been around since at least the 70s. If the venture throws off capital gain income, the carry partners get capital gain like anyone else. This was never controversial when Romney did it. There was a move to tax carry like ordinary income in the Dem controlled Congress but they didn’t do it because their supporters vetoed it. Obama didn’t push it because he gets Wall Street money too. You can argue that it should be ordinary income but until it is, there is nothing wrong with taking it as compensation. Especially since it is putting your compensation at risk (imagine not getting paid unless you were successful at a project). This is a bogus line of attack on Romney.
Attack?
Everyone is just getting a good look at the entire picture.
Bain did at least prat of what it did on our dime.
…”Chris Cavarretta, of Stratham, New Hampshire, said his fellow Mormon friend met Romney last week at a campaign stop and told him to “choose the right”—a popular LDS slogan similar to “What would Jesus do?”
“His eyes lit up, and he said, ‘Yes, always.’”…..
http://www.freerepublic.com/focus/news/2832423/posts?page=1
Bain Capital is part of the K-Street to Wall Street “scratch my back and I’ll scratch yours” culture that has become corrupted.
Free market capitalism is the ticket to a strong, free society, but the K-Street-Wall Street cousins have become too cozy.
Why is Mitt Romney against releasing his tax returns?
Your point is?
Imagine that Mormon slogan coming out of Obama's mouth during a "Romney-Obama" debate.
“A previous story incorrectly reported that Mitt Romney’s former firm, Bain & Co., was part of a team of consulting companies that advised President Barack Obama on a decision to shutter car dealerships during the auto bailout.
Bain & Co. said it has no connection to the “Bain Consulting” firm referenced in government documents.”
http://www.cnbc.com/id/45979278
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