Indeed. The article may be spot on but NR is so pro-Jeb and anti-Trump that I also no longer trust their views. There was proof enough of that when Rich Lowry lambasted Trump on Megyn Kelly's show last night. Watch out for this guy.
Posted on 09/22/2015 6:26:26 AM PDT by SeekAndFind
Donald Trump has promised that he will ease burdens on the middle class by going after “the hedge-fund guys,” who, he believes, do not pay enough in taxes. “They’re making a tremendous amount of money — they have to pay taxes,” he says. Because the one thing in which Trump is consistent is his vagueness, it is not 100 percent clear whether what he is talking about is the so-called carried-interest loophole, which is very much on the minds of people with economic-policy views similar to Trump’s — meaning Bernie Sanders and Hillary Rodham Clinton and other cookie-cutter progressives — but in any case, it is worth having a look at the reality and the myths of how hedge funds and other financial firms are taxed, assuming that we want to start with facts and proceed to opinion rather than go like a crab backward.
The myth is this: Hedge-fund managers take home tremendous paychecks that are really plain old payments for services but which are disguised as long-term capital gains, meaning that they get taxed at 15 percent rather than the 39.6 percent I pay on my salary, which is fundamentally unfair.
The thing about myths is, they’re myths.
If you will forgive a brief little dip into finance gobbledygook, some clarification is in order here. The first thing to understand is that “hedge fund” has come to be used the way the Left (and science-fiction writers) use the word “corporation,” meaning: men and institutions with a great deal of money doing things that I do not understand, who must, therefore, be evil. Indeed, the current discussion about the taxation of financial firms is a terrific example of how the good-guys/bad-guys school of policy analysis makes people stupid.
(Excerpt) Read more at nationalreview.com ...
Comments?
national Review has become a GOPe hack outfit and I refuse to read anything from them. They have been outed...but to each his own
Why would anyone want to read what Kevin Williamson writes about anything connected to Donal Trump? He has been so intent on destroying Trump’s credibility that he has destroyed his own.
My ‘comment’ is really a question. “So, exactly how many billions does Kevin Williamson have now?”
Honestly, I think the issue is bigger than Donald Trump himself or any personality. The issue is about TAXATION.
Let’s say Trump did not propose this tax policy and some other candidate ( even Democrats ) proposed it, would you agree that it is a good or bad idea?
RE: “So, exactly how many billions does Kevin Williamson have now?”
It looks like your tax policies are aligned with the Democrats and a lot of the GOPe. The richer you are, the greater the tax rates you will have to pay and the current rates should be INCREASED on those who make the most.
The supremacy of finance capital over all other forms of capital means the predominance of the rentier and of the financial oligarchy; it means that a small number of financially “powerful” states stand out among all the rest. The extent to which this process is going on may be judged from the statistics on emissions, i.e., the issue of all kinds of securities. - V.I. Lenin
HOORAY Trump
That is pretty much how I see it. I do not know much about this subject but if I cared to see how it worked in relation to Trump’s statements, NRO is the last place i would look.
When you say “your tax policies....” are you talking about me? I don’t have sh!t or a pot to put it in if I had it.
I made no assertions one way or the other about the efficacy of Herr Williamson’s assertions; I enquired about what fortune (a measure of his astuteness one might consider) backs them up.
Indeed. The article may be spot on but NR is so pro-Jeb and anti-Trump that I also no longer trust their views. There was proof enough of that when Rich Lowry lambasted Trump on Megyn Kelly's show last night. Watch out for this guy.
Is it coincidental a story hit the MSM about a hedge fund manager who bought a company that produced an anti-parisitic medication which used to run about $13.00/pill a few days ago and now costs 5000x that?
National “Attack Trump” Review.
RE: National “Attack Trump” Review.
Read the article and you’ll see that it is an attack on his proposal to increase taxes on hedge funds.
Let’s focus on the policy and debate over whether it is a good or bad idea.
Williamson! Where’d you learn your trade?
Again, you have refused to read Trump’s book, so you have no idea what the hell you are talking about. AGAIN!
Trump is SELLING the plan for the GENERAL ELECTION. He is showing you supposedly conservative idiots how this is done.
Trump’s plan calls for ALL INCOME to be considered the same. All of it taxed at the same rate. A graduated flat tax. Thus, the hedge fund douches pay more, but they pay the same as everyone else. Trump is just using the rhetoric of the left to sell the most conservative change to the tax code since it’s introduction.
How about a ‘debate’ on whether the idea is even friggin real? You guys should inform yourselves before going around spouting this crap.
only one reasonable response - and it was wrong - and the rest are doing the liberal lo fo “attack the messenger” thing instead of dealing with the content.
I am pretty sure the content of this article was way above the heads of most.
OK, here’s what Trump proposes:
Trump specifically addressed a tax code loophole known as the “carried interest loophole,” a provision in the tax code that lets private equity and hedge fund managers pay taxes at the CAPITAL GAINS rate instead of the ORDINARY INCOME rate.
The capital gains tax bracket is only at 20%, significantly lower than the top income bracket that many fund managers would occupy, which is around 39.6%.
So, you are in favor of that?
Bernie Sanders is in favor of that. The difference being, he wants to INCREASE the capital gains AND the top income bracket significantly.
For that matter, Hillary is in favor of that too.
Trump echoes similar remarks by his Democrat peers. Hillary Clinton commented in May that “something is wrong when CEOs earn more than 300 times than what the typical American worker earns and when hedge fund managers pay a lower tax rate than truck drivers or nurses.”
OK for those who want to understand the issue instead of bash anyone who questions a policy simply because St. Donald’s name is on it , here’s what Trump proposes:
Trump specifically addressed a tax code loophole known as the “carried interest loophole,” a provision in the tax code that lets private equity and hedge fund managers pay taxes at the CAPITAL GAINS rate instead of the ORDINARY INCOME rate.
The capital gains tax bracket is only at 20%, significantly lower than the top income bracket that many fund managers would occupy, which is around 39.6%.
Bernie Sanders is in favor of that. The difference being, he wants to INCREASE the capital gains AND the top income bracket significantly.
For that matter, Hillary is in favor of that too.
Trump echoes similar remarks by his Democrat peers. Hillary Clinton commented in May that “something is wrong when CEOs earn more than 300 times than what the typical American worker earns and when hedge fund managers pay a lower tax rate than truck drivers or nurses.”
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