Sunday, September 2, 2012

Bain Capital Under Investigation for Tax Evasion

Bain Capital, the private equity firm founded by  Mitt Romney, is under investigation for questionable tax practices, according to NYT.

Since July, New York Attorney General Eric Schneiderman has been issuing subpoenas to private equity firms including Bain, which he believes intentionally changed management fees into capital gains as a way of hanging onto millions of dollars that would have otherwise been taxed at a higher rate. Bain alone is estimated to have saved “more than $200 million in federal income taxes and more than $20 million in Medicare taxes.”


  1. While it's possible there are some legitimate things to investigate, the timing of this and the instigator of the investigation certainly makes it reek of an election year tactic.

  2. Bain Capital accused of enriching Dem interest groups


  3. If the law says that I can turn management fees into capital gains (it does in the case of limited partnerships) the AG has no case. This sounds like classic Rudy Giuliani or Elliot Spitzer style harassment for political gain.

  4. Isn't Rudy Giulani a Republican? This is not political it's criminal. You send Wesley Snipes & Lauran Hill to jail but Romney gets a pass because he is running for president? America has a race problem & no one should be condemned for pointing out the obvious.