How does the uber-wealthy Romney pay so little in taxes?

What Romeny and his peer group did in accumulating wealth while saddling the USA's Middle Class with burden is immoral. It is not illegal, but, it is highly immoral.


He used the power of money to reduce his participation in supporting the governments at all levels of the USA. He has cost Americans their jobs while doing it. It is immoral. Just that simple. Why do Middle Class Americans carry a heavier burden for their governments than the wealthy do?


Bush’s tax cuts (click here) gave a 2-child family earning $1 million an extra $86,722 – or Harvard tuition, room, board, and an iMac G5 for both kids. A 2-child family earning $50,000 gets $2,050 -or 1/5 the cost of public college for one kid.

Romeny's low tax rate, (click title to entry - thank you) and how he achieved it, provides an important lesson in how tax laws need to change.

By Robert Reich

Guest blogger 

April 12, 2012

Now that Mitt Romney is the presumed Republican candidate, it’s fair to ask how he made so much money ($21 million in 2010 alone) and paid such a low rate of taxes (only 13.9 percent)....

...The magic of private equity isn’t really magic at all. It’s a magic trick – and it’s played on you and me....

Private Equity like Bain Capital their IPO relatives now running for more money in the Wall Street Exchange. Evidently, enough equity is never enough.

"Bain Capital (click here) Private Equity has raised ten global funds and made more than 250 investments. The private equity activity includes leveraged buyouts and recapitalization in a variety of industries."

"Brookside Capital is the public equity affiliate of Bain Capital. (click here) The principal investment objective of the Fund is to achieve capital appreciation through investing primarily in publicly traded equity securities globally. Brookside employs an experienced team of industry oriented investment professionals to achieve its investment objective. The Brookside team evaluates investments based on in-depth strategic and financial analysis, emphasizing industry fundamentals, competitive position and management capability."


"Sankaty Advisors, LLC, the credit affiliate of Bain Capital, LLC,(click here) is one of the nation's leading private managers of fixed income and credit instruments. With approximately $15.5 billion assets under management as of 1/1/2012, Sankaty invests in a wide variety of securities and investments, including leveraged loans, high-yield bonds, distressed/stressed debt, mezzanine debt, structured products and equities."

"We’re proud of the history of our firm, (click here) the experience of our team and the breadth of our network – let’s talk about how we can put these resources to work for you."

"Absolute Return Capital (ARC) (click here) is the absolute return affiliate of Bain Capital. ARC manages assets in fixed income, equity, commodity, and currency markets to produce attractive risk-adjusted returns while maintaining low correlation to traditional and other alternative investments."

Mitt Romney has made his money on the back of the Middle Class by accumulating wealth at their expense. He has closed down businesses and exported jobs. Is there anything else we have to know about this candidate? There isn't anything else I need to know!