Sixers owner Marc Leder, host of the newly famous private equity conclave in which GOP presidential candidate Mitt Romney depicted Obama backers as government-dependent parasites, has lots of reasons to support Romney:
As an owner of the Boca Raton-based buyout firm Sun Capital, Leder collects millions in annual investment fees can be taxed at the lower U.S. capital gains rate (15%) instead of income taxes at the usual top U.S. rate (35%).
Tax reformer David M. Walker (the government's top accountant under Bush and Clinton) and others have called for equalizing those rates, which would cost investment managers like Leder and fellow Sixers owner Josh Harris of Apollo Global Management many millions.
Leder’s company buys troubled industrial firms at discount prices, consolidates or sells operations, and tries to repackage and re-sell what’s left at a profit. They have laid off many hundreds of Philadelphia-area workers in recent years. I have written about some of Sun’s local transactions.
In 2008, Sun Capital laid off 1,000 nonunion drivers and workers at a company it owned in South Jersey, Jevic Transportation, as I later noted here.