Posted on 01/30/2017 5:45:44 PM PST by Sean_Anthony
Any tax increase that specifically targets private equity, venture capital, real estate and other long-term business investments is counterproductive to reaching that goal
Margaret Thatcher reminded us that one of the problems with socialism is you eventually run out of other peoples money, but that doesnt stop liberals like Senate Minority Leader Chuck Schumer (D-NY) from finding more sources. His latest crusade is an effort to increase taxes on investment income namely carried interest capital gains.
For several years Schumer opposed increasing capital gains on carried interest, but now, after declaring he will work with President Trump when he abandons his party, is hoping to raise taxes. He cited an increase in taxes, particularly on carried interest, as an area where he is willing to work with the president.
How about hedge funds? Big Dem contributors
Everyone’s taxes should be lower. But, carried interest is a goody obtained from campaign contributions. Home builders, traders, salesman, etc. all get taxed at the ordinary income rate. Lower all taxes to a point where special interests at the cap gains rate have no gap to exploit.
This is why I laugh at the flat taxers. The people aren’t giving up their tax privliges.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.