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“Tax analysts say Romney may have good reason to be reluctant to release his returns. His vast fortune is invested in dozens of funds linked to Bain Capital LLC, the powerhouse private equity firm he co-founded and led for 15 years. Several Bain funds have offshore connections and take advantage of tax breaks used only by the U.S. financial elite.” [Reuters, via Political Wire]
@Serolf Divad: I’m thinking we’re going to get an interesting public lesson in private finance. It’s well beyond Mitt As One Percenter, or Mitt as Fifteen Percenter. It’s Ned Beatty lecturing Peter Finch.
I’m mad as hell and may I have another, sir.
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2:04 pm • Wednesday • January 18, 2012
I think we’re going to find that the guy’s effective tax rate is closer to 10%, maybe even 5%.
It’ll put his plans to lower taxes on the rich in a whole new light (if the 15% revelation hasn’t already).