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(Boston.com)   Mitt Romney develops uncanny hindsight, decides to release his tax returns on Tuesday   (boston.com) divider line 135
    More: Obvious, South Carolina GOP  
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1880 clicks; posted to Politics » on 22 Jan 2012 at 7:20 PM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



135 Comments   (+0 »)
   
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2012-01-22 08:20:02 PM  

tenpoundsofcheese: Eddie Adams from Torrance: I don't know why this is going to matter.

Everyone with half a brain already knows that multi millionaire investors like Romney pay ridiculously low tax rates.

Those who support Romney are either too stupid to realize this, or are perfectly OK with it.

or, more likely, know that it is not Romney's fault.

Buffet, Soros and other billionaires pay a ridiculously low tax rate too. Yet somehow they are not a super villains


Could that be because they advocate making it more difficult for billionaires to pay ridiculously low tax rates?
 
2012-01-22 08:23:52 PM  

Sabyen91: Shaggy_C: mrshowrules: They are taking advantage of a loop hole that they are not even entitled to but can do it because of a technicality

Tax avoidance is not a crime.
Neither is paying the amount that you owe.

May not be illegal but if the average voter is privy to the shady shiat he does to avoid paying his fair share it won't help him one bit.


Are you farking kidding me? you go after people who are not doing anything illegal and are paying the taxes that are due and you make excuses for Geitner and Rangel and others who are not paying their taxes?

Geez, even Buffet's companies still owe about $1B in taxes from the last 10 years, but he says he isn't paying enough and he is a hero.

Are you living in opposite world again?
 
2012-01-22 08:26:35 PM  

tenpoundsofcheese: Eddie Adams from Torrance: I don't know why this is going to matter.

Everyone with half a brain already knows that multi millionaire investors like Romney pay ridiculously low tax rates.

Those who support Romney are either too stupid to realize this, or are perfectly OK with it.

or, more likely, know that it is not Romney's fault.

Buffet, Soros and other billionaires pay a ridiculously low tax rate too. Yet somehow they are not a super villains


Didn't Buffet recently say something about his taxes being to low, that it was wrong that he paid a lower rate than his secretary?

Maybe you could follow the news a little more closely.
 
2012-01-22 08:27:19 PM  
This has extreme potential
 
2012-01-22 08:27:19 PM  
Hopefully the posthumous baptism of Hitler isn't listed as an itemized deduction.
 
2012-01-22 08:28:39 PM  

bugontherug: tenpoundsofcheese: Eddie Adams from Torrance: I don't know why this is going to matter.

Everyone with half a brain already knows that multi millionaire investors like Romney pay ridiculously low tax rates.

Those who support Romney are either too stupid to realize this, or are perfectly OK with it.

or, more likely, know that it is not Romney's fault.

Buffet, Soros and other billionaires pay a ridiculously low tax rate too. Yet somehow they are not a super villains

Could that be because they advocate making it more difficult for billionaires to pay ridiculously low tax rates?


Buffet still owes $1B in taxes, so his words are hollow.

So it is all about PR and you guys buy that since they aren't writing the tax code, so who cares what they say?
 
2012-01-22 08:30:27 PM  

spongeboob: tenpoundsofcheese: Eddie Adams from Torrance: I don't know why this is going to matter.

Everyone with half a brain already knows that multi millionaire investors like Romney pay ridiculously low tax rates.

Those who support Romney are either too stupid to realize this, or are perfectly OK with it.

or, more likely, know that it is not Romney's fault.

Buffet, Soros and other billionaires pay a ridiculously low tax rate too. Yet somehow they are not a super villains

Didn't Buffet recently say something about his taxes being to low, that it was wrong that he paid a lower rate than his secretary?

Maybe you could follow the news a little more closely.


Yeah, he also said that he still farking owes about $1B in taxes. So who the fark cares what that idiot says about taxes?
It is all PR and I find it funny that you fall for it.
 
2012-01-22 08:32:44 PM  

tenpoundsofcheese: Buffet's companies still owe about $1B in taxes from the last 10 years


Funny I googled that and it all leads back to one group making that claim Americans for limited Government. You want to give me another source before I get all outraged?
 
2012-01-22 08:33:45 PM  
He's releasing exactly one year of tax returns, from 2010. (He's also going to release an "estimate" of 2011, but it's just that -- an estimate).

I believe he's not releasing more because the tax returns from the years before 2010 are contain things that would make him unelectable. And I think that's pretty amazing, because the guy has been running for President non-stop for the last five years. Did it just not occur to him that he would have to release his tax returns?
 
2012-01-22 08:37:17 PM  
Romney, getting attacked for being a rich businessman who uses all the loopholes the GOP has fought to give him.
 
2012-01-22 08:39:42 PM  
Why is it so important for candidates in general to release their tax returns? Has Ron Paul, the bat-shiat-crazy retard, been villified for not releasing his? What do people expect to see anyway? Romney "earns" several millions of dollars a year and pays more money in taxes each year than most of us even earn. Who really gives a shiat?
 
2012-01-22 08:41:21 PM  

The Larch: He's releasing exactly one year of tax returns, from 2010. (He's also going to release an "estimate" of 2011, but it's just that -- an estimate).

I believe he's not releasing more because the tax returns from the years before 2010 are contain things that would make him unelectable. And I think that's pretty amazing, because the guy has been running for President non-stop for the last five years. Did it just not occur to him that he would have to release his tax returns?


This is the guy who only stops Illegal Immigrants working on his property in an election year. He didn't worry about his taxes until someone told him it may pose a problem.

He seems to think that he is the inevitable nominee and that nothing will stand in his way.
 
2012-01-22 08:43:02 PM  

Is_What_It_Is: Why is it so important for candidates in general to release their tax returns? Has Ron Paul, the bat-shiat-crazy retard, been villified for not releasing his? What do people expect to see anyway? Romney "earns" several millions of dollars a year and pays more money in taxes each year than most of us even earn. Who really gives a shiat?


Yeah, I don't know what idiot started the tradition of candidates releasing their tax returns. But it's such a stupid tradition that I think whoever started it should be barred from office. In fact, I think that guy's children should be barred from office.
 
2012-01-22 08:48:49 PM  

tenpoundsofcheese: spongeboob: tenpoundsofcheese: Eddie Adams from Torrance: I don't know why this is going to matter.

Everyone with half a brain already knows that multi millionaire investors like Romney pay ridiculously low tax rates.

Those who support Romney are either too stupid to realize this, or are perfectly OK with it.

or, more likely, know that it is not Romney's fault.

Buffet, Soros and other billionaires pay a ridiculously low tax rate too. Yet somehow they are not a super villains

Didn't Buffet recently say something about his taxes being to low, that it was wrong that he paid a lower rate than his secretary?

Maybe you could follow the news a little more closely.

Yeah, he also said that he still farking owes about $1B in taxes. So who the fark cares what that idiot says about taxes?
It is all PR and I find it funny that you fall for it.


I am waiting where did anyone other that Americans for Limited Government say this, You say HE, which I think you mean Warren Buffet, says he owes 1 billion in taxes. I can't find that. When I google it one article shows up from something called humanevents.com and ever other hit I looked through was just people in the comments of other articles stating the one billion comment. If his company really owed up to one billion dollars wouldn't say Fox news or the wall st journal be all over that?
 
2012-01-22 08:49:39 PM  

Hueg_Redd: LOL! This is the best libs have on Romney?? Oh no! look how... SUCCESSFUL he is!!!


Um, no. No it isn't - although he's only successful because of who his father was. John McCain amassed a whole lot of unused information on him in 2008 and Obama's people are sitting on some major league stuff, I'm sure. Plus he killed a dog. And wears magic underwear.
 
2012-01-22 08:50:07 PM  

tenpoundsofcheese: Buffet, Soros and other billionaires pay a ridiculously low tax rate too. Yet somehow they are not a super villains


They aren't running for President of the US. Just because Romney may not have done anything blatantly illegal. His business practices represent a lot of the perceived wrongs being done by the investor class who were given all these tax breaks to incentivize productive investing in new capital, and middle income jobs.

Basically, we largely don't like the guy much, and he is not really a very good candidate for President.
 
2012-01-22 08:53:16 PM  

Outrageous Muff: It doesn't matter when he releases it. It will show Romney takes advantage of all the tax breaks that the super rich enjoy, which will strip him of all the Tea Party support


A) Mitt Romney does not have Tea Party support

B) The only thing that the Tea Party supports about Mitt Romney is that he pays 15% where they pay 30%, because they believe that the only thing keeping them from becoming as rich as Mitt Romney is those darn Democrats.
 
2012-01-22 08:54:51 PM  
Isn't that singular. He will release his tax return. Not helping us find out how much money made firing our fathers.
 
2012-01-22 08:55:33 PM  

serpent_sky: Exactly. I'm really not sure what people are expecting to see here. It's a non-issue. We KNOW he is a multimillionaire.


Yes, we know he's a multimillionaire. We know he pays a low tax rate. In spite of that, he knows that there is something in his tax returns that we DON'T know already that would be so damaging politically that he has significantly risked losing a sure thing by hiding it.

No, it's not a non-issue. We just don't know yet what the issue is.
 
2012-01-22 09:03:26 PM  

Shaggy_C: mrshowrules: They are taking advantage of a loop hole that they are not even entitled to but can do it because of a technicality

Tax avoidance is not a crime. The problem here is the congress which has not lifted a finger to close the loophole. I suppose everyone who doesn't pay extra unnecessary money to the government every year is just as despicable?


Who said crime? You raised the issue of whether it is ethical and it isn't. Pay 15% on investment income is what you do. When it is your primary income and thinking that is fair is bullshiat but that is another sign. Making money on investments by dismantling companies but at least making money for stakeholders is disgusting but at least it is transparent. Engineering it so that your income look like investment income (the carry) is jumping over the line and flipping the bird to all the other people not willing to be as devious in their technical abuse of the system. Romney is too much of a pussy to break the law. He is just enough of a pussy to take every possible step to exploit the system.
 
2012-01-22 09:09:58 PM  

spongeboob: I am waiting where did anyone other that Americans for Limited Government say this, You say HE, which I think you mean Warren Buffet, says he owes 1 billion in taxes. I can't find that. When I google it one article shows up from something called humanevents.com and ever other hit I looked through was just people in the comments of other articles stating the one billion comment. If his company really owed up to one billion dollars wouldn't say Fox news or the wall st journal be all over that?


Birkshire Hathaway has stated they owe back taxes of about a billion dollards on several years during the last decade. This is hardly news. And one of their companies just sued the IRS over a tax assessment. Also not surprising. Taxes get really complicated really quick at the corporate level and you are always arguing with the IRS over something.
 
2012-01-22 09:13:32 PM  

AverageAmericanGuy: MFAWG: AverageAmericanGuy: Why won't he release his birth certificate?

Hid father didn't have to when he ran for POTUS, why should he?

It seemed important enough that the Founding Fathers included natural born citizenship as one of the requirements for President.

What does Romney have to hide?


He has to hide born in Detroit. Some Birthers see that and it's born in Africa/Kenya all over again.
 
2012-01-22 09:15:19 PM  

Kevin72: AverageAmericanGuy: MFAWG: AverageAmericanGuy: Why won't he release his birth certificate?

Hid father didn't have to when he ran for POTUS, why should he?

It seemed important enough that the Founding Fathers included natural born citizenship as one of the requirements for President.

What does Romney have to hide?

He has to hide born in Detroit. Some Birthers see that and it's born in Africa/Kenya all over again.


Born in Detroit? I haven't seen Willardo Rodriguez's birth certificate.
 
2012-01-22 09:15:49 PM  

Boxcutta: Um, no. No it isn't - although he's only successful because of who his father was. John McCain amassed a whole lot of unused information on him in 2008 and Obama's people are sitting on some major league stuff, I'm sure. Plus he killed a dog. And wears magic underwear.


His father gave him a big stepping stone, but Mitt had to do a lot of hard work himself. He didn't kill a dog. And nobody but right wing evangelical bigots care about the magic underwear.

But after this week, I don't think Mitt is ever going to be President. He's handled this in just about the worse possible way. Mitt is very unattractive when he gets uncomfortable or angry, and he looked and sounded just like a lying 13 year old juvenile delinquent when he got called on his tax returns during the debate. I think most of America seriously wanted to punch him in the face when he said "mayyyybe [smirk]".

And have no idea why Romney decided to release only one year of tax returns, but I'm guessing that Newt is going to figure it out. And Newt is going to keep using the tax return issue to show us Romney's sniveling little weasel face routine on the national stage. If he does that a few more times, there will be nobody left in America who will vote for Romney. His own kids wouldn't vote for him if he keeps it up.
 
2012-01-22 09:17:46 PM  

mrshowrules: Engineering it so that your income look like investment income (the carry) is jumping over the line and flipping the bird to all the other people not willing to be as devious in their technical abuse of the system.


How is it 'engineering' anything? Every single hedge fund manager in the country uses carried interest as a part of their annual compensation. Stop trying to make it out like Romney alone is using some secretive loophole to not pay his fair share. He's a great example of the problem, sure, but I don't think it's a great attack on the man that would make any difference in most people's decision to vote for him.
 
2012-01-22 09:21:39 PM  
Won't it be fun if Santorum wins Florida?
 
2012-01-22 09:24:35 PM  

The Larch: His father gave him a big stepping stone, but Mitt had to do a lot of hard work himself.


I wonder how much having a big-name daddy who just ran for President influenced his ability to get into the Harvard JD/MBA program straight out of undergrad?
 
2012-01-22 09:26:11 PM  

bravian: spongeboob: I am waiting where did anyone other that Americans for Limited Government say this, You say HE, which I think you mean Warren Buffet, says he owes 1 billion in taxes. I can't find that. When I google it one article shows up from something called humanevents.com and ever other hit I looked through was just people in the comments of other articles stating the one billion comment. If his company really owed up to one billion dollars wouldn't say Fox news or the wall st journal be all over that?

Birkshire Hathaway has stated they owe back taxes of about a billion dollards on several years during the last decade. This is hardly news. And one of their companies just sued the IRS over a tax assessment. Also not surprising. Taxes get really complicated really quick at the corporate level and you are always arguing with the IRS over something.


Any citations?
 
2012-01-22 09:27:50 PM  
First he does his laundry, then he release his tax returns! Wow, he really is just like me.

/Still voting for the black guy.
 
2012-01-22 09:29:22 PM  

AverageAmericanGuy: Why won't he release his birth certificate?


This. I question his 'messican' heritage as well. If he just released his long-form birth certificate it would answer a lot of questions.

/i hope he rots in hell
//but i'm not stupid enough to believe religion
 
2012-01-22 09:31:11 PM  

bravian: spongeboob: I am waiting where did anyone other that Americans for Limited Government say this, You say HE, which I think you mean Warren Buffet, says he owes 1 billion in taxes. I can't find that. When I google it one article shows up from something called humanevents.com and ever other hit I looked through was just people in the comments of other articles stating the one billion comment. If his company really owed up to one billion dollars wouldn't say Fox news or the wall st journal be all over that?

Birkshire Hathaway has stated they owe back taxes of about a billion dollards on several years during the last decade. This is hardly news. And one of their companies just sued the IRS over a tax assessment. Also not surprising. Taxes get really complicated really quick at the corporate level and you are always arguing with the IRS over something.


I am not trying to be obtuse here but I am seeing that his company is stating that they haven't come to an agreement with the IRS yet. I can't find where the company says it is one billion dollars.
Then ten pounds of cheese also moved the goal post and said that Buffet owes one billion dollars, not the company, and that Buffet admitted it I can't find anywhere that says the company owes one billion dollars except people who are using the numbers from Americans For Smaller Government. Who have an agenda.

If the company owes that money of course I want them to pay it, but I also think that no company should be able to argue with the IRS. You would think that if congress really wanted to the tax code should be simplified so that everyone paid their share. I bet if I tried to argue with the IRS how much I owe it wouldn't go so well for me.
 
2012-01-22 09:32:30 PM  

Shaggy_C: He's a great example of the problem


And a darn good reason he does not represent the current zeitgeist of American presidential politics.
 
2012-01-22 09:32:53 PM  

farkityfarker: Won't it be fun if Santorum wins Florida?


Yes, but not so much for the Republicans.
 
2012-01-22 09:40:06 PM  

The Larch: He's releasing exactly one year of tax returns, from 2010. (He's also going to release an "estimate" of 2011, but it's just that -- an estimate).

I believe he's not releasing more because the tax returns from the years before 2010 are contain things that would make him unelectable. And I think that's pretty amazing, because the guy has been running for President non-stop for the last five years. Did it just not occur to him that he would have to release his tax returns?


You know why he's only realeasing an estimate on his 2011 taxes? Because they're not done yet. His accounting firm or staff has had exactly 22 days to prepare and file what is most likely a very compliacted personal return.
 
2012-01-22 09:41:55 PM  

urban.derelict: AverageAmericanGuy: Why won't he release his birth certificate?

This. I question his 'messican' heritage as well. If he just released his long-form birth certificate it would answer a lot of questions.

/i hope he rots in hell
//but i'm not stupid enough to believe religion


don't sell yourself short.
 
2012-01-22 09:42:09 PM  

Minarets: You know why he's only realeasing an estimate on his 2011 taxes? Because they're not done yet. His accounting firm or staff has had exactly 22 days to prepare and file what is most likely a very compliacted personal return.


Wait, he couldn't release that one when it is done? I thought he was big on emotionless crisis management
 
2012-01-22 09:44:04 PM  

tenpoundsofcheese: Buffet, Soros and other billionaires pay a ridiculously low tax rate too. Yet somehow they are not a super villains


Yes they are. They just aren't running for President.
Wait, I do recall Buffet complaining that his taxes aren't high enough and the rich should pay more, but that got swept under the rug and forgotten pretty quick.
I'm pretty sure it was Buffet anyway.
 
2012-01-22 09:45:27 PM  
encrypted-tbn2.google.com

Mitt Romney
 
2012-01-22 09:47:35 PM  

Is_What_It_Is: Why is it so important for candidates in general to release their tax returns? Has Ron Paul, the bat-shiat-crazy retard, been villified for not releasing his? What do people expect to see anyway? Romney "earns" several millions of dollars a year and pays more money in taxes each year than most of us even earn. Who really gives a shiat?


I don't give a fark about his tax returns. What I want to know is why aren't the other guys releasing their returns also? Wasn't it Noot who was wailing the loudest over how Romney needed to release his returns? Where's yours, Newtie?
 
2012-01-22 09:48:55 PM  

cretinbob: tenpoundsofcheese: Buffet, Soros and other billionaires pay a ridiculously low tax rate too. Yet somehow they are not a super villains

Yes they are. They just aren't running for President.
Wait, I do recall Buffet complaining that his taxes aren't high enough and the rich should pay more, but that got swept under the rug and forgotten pretty quick.
I'm pretty sure it was Buffet anyway.


Buffett just cut a check to the Treasury to help with the debt, as well. Link (new window)
 
2012-01-22 09:51:24 PM  

Shaggy_C: mrshowrules: Engineering it so that your income look like investment income (the carry) is jumping over the line and flipping the bird to all the other people not willing to be as devious in their technical abuse of the system.

How is it 'engineering' anything? Every single hedge fund manager in the country uses carried interest as a part of their annual compensation. Stop trying to make it out like Romney alone is using some secretive loophole to not pay his fair share. He's a great example of the problem, sure, but I don't think it's a great attack on the man that would make any difference in most people's decision to vote for him.


You don't see it do you.

1) Pay a manager a portion of investment profits/performance (investor no longer has to risk his own money and can be paid more than profits realized on investments)

OK. You can rationalize that, you just did. Everyone's doing it and the Manager is investing his time. Nevermind that a everyday fund Manager would be on salary/bonus and would pay a regular tax rate.

2) carry interest and balance profits and pay a "regular" rate of "investment" earnings to the Manager (Romney) regardless of how well investment pans out.

Now you basically substituted a salary with a theoretical formula for earned for investment profits (even if it is complete bullshiat).

3) fark profits, just take a cut/fee off all investors and pay it to the Manager has investment profits even if the investments absolutely no weath.

It is literally a loophole to a loophole to a loophole.



Bart: Uh, say, are you guys crooks?
Fat Tony: Bart, um, is it wrong to steal a loaf of bread to feed your starving family?
Bart: No.
Fat Tony: Well, suppose you got a large starving family. Is it wrong to steal a truckload of bread to feed them?
Bart: Uh uh.
Fat Tony: And, what if your family don't like bread? They like...cigarettes?
Bart: I guess that's okay.
Fat Tony: Now, what if instead of giving them away, you sold them at a price that was practically giving them away. Would that be a crime, Bart?
Bart: Hell, no!
Fat Tony: Enjoy your gift.

upload.wikimedia.org
 
2012-01-22 09:52:57 PM  

Minarets: You know why he's only realeasing an estimate on his 2011 taxes? Because they're not done yet. His accounting firm or staff has had exactly 22 days to prepare and file what is most likely a very compliacted personal return.


Do you know why he's not releasing his 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, or 2009 returns? Neither do I, but I bet Newt is going to find out.

But even if he doesn't, you're going to see a lot more of Mitt Romney's sniveling little troll face response of "Mayyybe [smirk]" when people ask him why he didn't release multiple years of tax returns like his father did. His campaign is done.
 
2012-01-22 09:53:14 PM  

cryinoutloud: Is_What_It_Is: Why is it so important for candidates in general to release their tax returns? Has Ron Paul, the bat-shiat-crazy retard, been villified for not releasing his? What do people expect to see anyway? Romney "earns" several millions of dollars a year and pays more money in taxes each year than most of us even earn. Who really gives a shiat?

I don't give a fark about his tax returns. What I want to know is why aren't the other guys releasing their returns also? Wasn't it Noot who was wailing the loudest over how Romney needed to release his returns? Where's yours, Newtie?


Great point. Kinda like the whole birth-certificate thing--The minute you say you are not going to "release" something, you immediately are assumed to be hiding something... Just release the goddam things and be done with it already. Politicians just never learn.
 
2012-01-22 09:53:38 PM  
Great Moments in Presidential Photo Failure

cdn.theatlantic.com

www.truckerphoto.com

digitaljournalist.org

www.uticaod.com

images.sodahead.com

www.smh.com.au
 
2012-01-22 09:54:04 PM  

Rapmaster2000: [encrypted-tbn2.google.com image 215x234]

Mitt Romney



No garments showing, so I am calling photoshop, something something pixels.
You will never see Mitt without long sleeves.
 
2012-01-22 10:01:13 PM  

mrshowrules: regardless of how well investment pans out.


Where are you getting this part from? Carried interest only works when the firm is actually profiting from investments. If it's losing money, you can't get a percentage of a negative number to become a positive.
 
2012-01-22 10:01:17 PM  

Mad Tea Party: Did someone say "Selma Hayek?" 'Cause I'm pretty sure I heard someone say Selma Hayek.

[uglytruthnews.com image 600x787]


I believe it's pronounced Salmon Hayek.
 
2012-01-22 10:06:11 PM  

sprawl15: Mad Tea Party: Did someone say "Selma Hayek?" 'Cause I'm pretty sure I heard someone say Selma Hayek.

[uglytruthnews.com image 600x787]

I believe it's pronounced Salmon Hayek.


Call me shallow but I don't care how it is pronounced
4.bp.blogspot.com
 
2012-01-22 10:15:44 PM  

bravian: spongeboob: I am waiting where did anyone other that Americans for Limited Government say this, You say HE, which I think you mean Warren Buffet, says he owes 1 billion in taxes. I can't find that. When I google it one article shows up from something called humanevents.com and ever other hit I looked through was just people in the comments of other articles stating the one billion comment. If his company really owed up to one billion dollars wouldn't say Fox news or the wall st journal be all over that?

Birkshire Hathaway has stated they owe back taxes of about a billion dollards on several years during the last decade. This is hardly news. And one of their companies just sued the IRS over a tax assessment. Also not surprising. Taxes get really complicated really quick at the corporate level and you are always arguing with the IRS over something.


I can't find any sources for this claim. Can you post one?
 
2012-01-22 10:24:21 PM  

Shaggy_C: mrshowrules: regardless of how well investment pans out.

Where are you getting this part from? Carried interest only works when the firm is actually profiting from investments. If it's losing money, you can't get a percentage of a negative number to become a positive.


The fees are on the front end. Not the back end. I give you $10 Million, you take a 2% fee and invest it (less the 2%). Investments do well, great, add to the carry. Investments, tank. Oh well, you still got your 2% fee and you can pay that to your Manager. You think Romney only gets paid when the companies investments make a profit? The whole point of the carry is to get around that. It is all designed to create a 15% salary.
 
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