Government workers aren’t asking for any kind of special tax treatment (they’re often the ones paying a higher tax rate than the speculators), nor do they think they’re better than anyone else.
[/quote]
CAR:
Here is one special Romney tax treatment that was recently uncovered but people missed it,
. . . The current investing strategy favors the Romneys over the charity because they get a guaranteed payout, said Michael Arlein, a trusts and estates lawyer at Patterson Belknap Webb & Tyler LLP.
“The Romneys get theirs off the top and the charity gets what’s left,” he said. “So by definition, if it’s not performing as well, the charity gets harmed more.”
The trustee for Romney’s CRUT is R. Bradford Malt, chairman of the law firm Ropes & Gray LLP, and manager for Romney’s various family trusts as well as his personal attorney. Ropes & Gray has also been for years the main outside counsel for Bain Capital.
If the CRUT maintains the same investing strategy, assets will continue to shrink, said Jerome M. Hesch, a tax and estate planning attorney at the law firm Carlton Fields. The trustee acted prudently in protecting against losses during a stock market decline, he said.
Nevertheless, “what’s going to go to charity is probably close to nothing,” Hesch said.
(emphasis mine)
Sounds like a good excuse for Romney to appear (to the public) as if he is actually a “philanthropist,” LOL!
