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.
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.”
If you take the risk, investing your money and/or labor on a business and over a longer period you may or may not make a return on your investment, removing a tax incentive may not make it worth the risk.