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Carried interest carries Romney's interest: He'd keep the tax loopholes

Another day, another example of Romney and his campaign saying whatever it takes to get elected. On a conference call about Romney's latest economic proposal, an adviser said that Romney would "reconsider" closing the carried interest tax loophole. You might not have heard of this particular loophole, but you can be sure Romney knows it well: It's the one that allows him and the very wealthiest American to pay a very low tax rate. Because much of his income comes from capital gains, Romney directly benefits from the loophole in question. His tax rate is an astonishingly low 13.9 percent—much lower than many middle-class families and even lower than many millionaires. So why would he want to do away with it?

Romney himself has been clear that he doesn't want to close the loophole. He told Larry Kudlow on CNBC at the end of last month that "my view is that we don't raise taxes on anyone. I'm not looking to single out some group of people and say let's raise taxes." When Kudlow asked, "So you'd keep the carried interest?" Romney didn't hedge: "Yes."