Wealth

Bain Capital Still Paying Romney

Mitt Romney retired from Bain Capital in 1999, but the company has continued paying him a portion of the profits from all its deals. That’s because he negotiated an extremely lucrative retirement package that pays him “millions of dollars in income each year,” according to The New York Times. This means you can expect to hear more from Romney’s opponents about how he has profited from layoffs. In 2000, for example, Bain purchased KB Toys and eventually laid off thousands of workers. Romney’s retirement package was also taxed at the 15 percent capital-gains rate instead of the 35 percent rate for ordinary income.