Tax loopholes, money tricks benefit bosses like Mitt Romney: James Surowiecki
(NEWSER) - Mitt Romney's opponents have slapped Bain Capital over layoffs, but private equity actually has little overall effect on job numbers. Instead, the crimes of such companies are centered on the way they make money, writes James Surowiecki in the New Yorker . What we should be concerned about is the companies' "financial gimmicks" that score profits "not from management or investing skills but, rather, from the way the US tax system works." At the heart of the problem are the "special dividends" that such firms have taken on in recent years. More»
