Thursday, February 7, 2008

PEU Romney Drops Out Due to Time of War

Presidential candidate and ex-private equity CEO Mitt Romney broke the bad news to his followers today. He's suspending his presidential run. His announcement attributed it our country's War on Terror.

"In this time of war, I must now stand aside, for our party and our country."

"If I fight on in my campaign, all the way to the convention, I would forestall the launch of a national campaign and make it more likely for Senator Clinton or Obama to win. And in this time of war, I simply cannot let my campaign, be a part of aiding a surrender to terror."

Mitt Romney can drop out, but sure won't ask his buds in the private equity underwriting (PEU)world to pay regular income taxes on carried interest. As for the great wars and America's financing of those conflicts, consider the maximum individual tax rate:

World War I-77%
World War II-94%
Vietnam War-70-77%
War on Terror-35%

Mitt and the rest of the PEU boys leave with their wallets intact. Yes, he'll drop out to protect America from terrorists from the Democratic Party, but he won't pay the freight, at least not like past generations. Sad days indeed...