Romney’s Returns Refute His Tax Argument: David M. Abromowitz
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Feb. 9 (Bloomberg) -- For all the attention devoted to MittRomney’s tax returns last month, one element went largelyunnoticed: They directly refute the Republican candidate’sargument that higher tax rates deter capital investment.
Simply put, all of the investments made by Bain CapitalLLC, the private-equity company Romney cofounded in 1984 and ranuntil 1999, occurred when capital-gains rates were much higherthan they are today. Yet Bain consistently attracted massiveamounts of private capital, and thrived.