Current and former Bain executives and their relatives have given about $4.7 million to organizations that are dedicated to making Romney the next president of the United States, according to a Center for Public Integrity investigation.
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Romney made his first moves to run for president in 2003, barely six months into his Massachusetts governorship.
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Romney's Bain connections have drawn scrutiny, especially questions about the low tax rates that executives of private equity firms pay. Romney recently released his 2010 and 2011 tax returns, which showed that he'd paid a little less than 15 percent in taxes on his $42 million total income for the two years.
About $13 million was from "carried interest," or a share of profits to equity managers on Bain investments that's taxed at lower rates than ordinary earned income is. Among Bain's lobbying interests was legislation that would treat "carried interest" as taxable income.
steveg
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Registered: 04/19/02
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Keep in mind, this is the Republican primary race, and whether the far right likes it or not, Richy Rich will get the nomination because it's his turn. And given that thus far, 52% of those polled across both parties and independents, say that the more they learn about him, the less they like him. In fact, he may get his ass handed to him at CPAK. Come the general election, he's toast.
DLC
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Registered: 11/04/02
Posts: 13080
Loc: Lilburn, GA
Originally Posted By: steveg
Keep in mind, this is the Republican primary race, and whether the far right likes it or not, Richy Rich will get the nomination because it's his turn. And given that thus far, 52% of those polled across both parties and independents, say that the more they learn about him, the less they like him. In fact, he may get his ass handed to him at CPAK. Come the general election, he's toast.