Wealthy private equity managers pay a lower tax rate than many middle income Americans because of the “carried interest” tax loophole. With the revelation that Mitt Romney, through his investments in private equity firm Bain Capital, receives a windfall profit every year that benefits from the loophole, Wall Street lobbyists are stepping up the campaign to ensure that public outcry doesn’t translate into more equitable tax rates.
Yesterday morning, a trade lobby for the private equity industry, the Private Equity Growth Capital Council, launched a new website to push back against critics. As the New York Times …
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