The carried interest thing is the biggest tax scam around. This is yet another absurd way in which a small group of people enjoy a privileged position in the tax code. And yet even then, they still appear to stretch the limits of that advantage.

I will be very interested to find out whether he transferred carried interest at a zero value. That would be pretty darn scummy.

As I've been saying for a while, people are asking the wrong question about Mitt Romney's taxes. It's not his taxes on INCOME that matter, it's the taxes on the transfer of his accumulated wealth that does. He ducked the 45% gift tax:

http://blogs.wsj.com/washwire/2012/08/24/a-clue-emerges-to-romneys-gift-tax-mystery/