“So many hedge fund managers are democrats who advocate higher taxes on others, but not themselves”
Eliminating carried interest will hit leftist billionaires such Tom Steyer, Warren Buffett, Soros, Jon Corzine, and the boys at Goldman Sachs hard.
It won’t affect the 20% capital gains rate for the average middle class taxpayer with stocks in her/his retirement portfolio.
Generally I’m not for higher taxes but at least this one might actually reduce some of the millions of dollars progressive billionaires give to leftist political candidates and causes.
Actually, the correct capital gains rates are:
Income under $200K: 15%
Income over $200K but under $400K: 18.3%
Income over $400K: 23.8%
Taxpayer Relief Act of 2012.
Trump's idea to eliminate carried interest will hit leftist billionaires hard....such as Tom Steyer, Warren Buffett, Soros, Jon Corzine, and the boys at Goldman Sachs. “So many hedge fund managers are Democrats who advocate higher taxes on others, but not themselves” Trump observed. The Hillary-Goldman Sachs connection.
Then-US Sens Clinton and Corzine. Corzine was fresh out of Goldman Sachs executive suite, buying his NJ Senate seat office for $65 million; then buying the NJ governorship. Out of office, Corzine ran a hedge fund where $1.5 B went missing.
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Chelsea's husband, Mark Mezvinsky, runs a hedge fund that gained access to bigtime Wall Street investors w/ ties to the Clintons and the Clinton Foundation.
Back in 2011, Mezvinsky, now 37, and two former Goldman Sachs colleagues — Bennett Grau and Mark Mallon — began raising money for Mezvinsky's Eaglevale Partners LP hedge fund.
Some of Hillary's SIL's investors included Goldman Sachs CEO Lloyd Blankfein. Blankfein, a slavish Democrat supporter, said he had "always been a fan of Hillary Clinton."
The WSJ reports extensively on Eaglevale's underperformance since its inception and Mezvinsky's mediocre investing and strategizing.