In releasing his 2010 and estimated-2011 tax returns, the Romney campaign acknowledged that Mitt Romney made nearly $13 million in “carried interest” — “money that’s paid out to fund managers in return for their labor.” Rather than treating this money as regular income, it’s comes out of a company’s profits and is taxed at the 15% capital gains tax rate — hence, it’s a ‘loophole.’
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=151710