Two-Thirds Of American Investors Support Closing Romney’s Tax Loophole

Two-thirds of American investors support eliminating a tax break that helped former Massachusetts Gov. Mitt Romney (R) pay just 13.9 percent of his income in taxes last year, according to a survey conducted by Bloomberg. Just 27 percent of investors say the break that taxes so-called carried interest at a lower rate than regular income is justified, a break President Obama would close with “the Buffet Rule,” as proposed in his State of the Union address. The carried interest tax break is “welfare for the rich,” said one investor, while another called it “a misallocation of capital and resources from the poor and middle class to the rich.” Romney maintains the break in his own tax reform plan, which would give himself a $3.5 million tax break compared to Obama’s plan.