Sunday, December 17, 2017

Trump Lie: Carried Interest Loop Hole

You really should listen to this interview.  CNBC Hedge Fund Loop Hole  He seems very rational, thorough and he covers one of Trump's biggest lies so far very well.
"Druckenmiller says the tax proposal is unfair to doctors and lawyers in states where taxes will go up dramatically, while "you have these multi, multibillionaires — with carve-outs — let's be clear. Carried interest ... you're making money on somebody else's capital. It's not on your own. If that's not income, I don't know what is." 
President Donald Trump promised during his campaign that he would eliminate this loophole, saying hedge-fund managers were "getting away with murder." 
But he has packed his administration with billionaires and former Wall Street executives. The finance industry has pressed hard to preserve carried interest."
Don't we Republicans get tired of our reps selling out to wealthy donors?

More Tax Bill Details
WAPO Bill Summary
CNN Bill Summary
WAPO Plan Encourages Off Shoring
Salon Tax Bill and Ford Plant In Mexico
CNN Small Businesses Lose Big

5 comments:

jerrye92002 said...

You have discovered the problem with the tax code. First, it's easy to hide things in 70,000 pages. Second, one man's loophole is another man's fair share.

John said...

It isn't hidden. It is there even though Trump promised to get rid of it.

John said...

VOX GOP Tax Bill

John said...

PBS Shields and Brooks

NYT Brooks

John said...

I wonder if the GOP will really go ahead and pass this flawed legislation? I mean there are good things in it, but there seem to be a lot of warts.

Tax Plan Disapproval Grows

One would think the GOP would have learned the consequence of passing unpopular legislation from the DEMs and ACA. And this plan is much less popular than ACA.