Obama Is Flexible On Highest Tax Rates

[BlueStreak]

102. It is a pretty big deal.

It would have increased Romney's taxes by 33%

Granted, there is no economic argument for letting ANY of Romney's Bain income be taxes at CG rates. We need to end the carried interest provision and the other loopholes that have made a sham out of the whole concept of cap gains.

It isn't JUST carried interest. Notice that most of the executive compensation comes through "options". That isn't to give executives "skin in the game" so to speak. The only reason they do it that way is that the money they pay through options escapes payroll taxes and can be taxes as CG. It is a complete sham. There is no risk on these options. It is essentially guaranteed pay. There is always a gentleman's agreement between the board and the execs that if the stock price goes down, the option will be revalued so the exec still gets his pay.