Why? He’s going to tax the living F out of them
It’s a scam. They say the tax rate is higher but they write in more loopholes and the tax lawyers make big bucks and revenue stagnates. Rinse and repeat.
We have seen this repeatedly. Wall Street supports democrats (and republicrats) because they (Wall Street) control the game when they have power. Wall Street is part of the DC/NY media bubble so they have a different reality than the rest of us who look at this and scratch our heads.
Senator Schumer wrote a special tax law jut so the hedge fund managers got paid at a lower rate than the rest of us.
Look on your Federal Tax 1040 form. There is a special line for them. They are taxed similar to you and I having a long term capital game. So, instead of being in the 28, 25 % tax bracket. They have a special tax bracket just for them. I believe it is between 17-19%.
Schumer is owned by Wall Street.
I think this is pretty much correct. Our big corporations and wall street are in bed with DC. They make the rules so as to totally lock out the competition and rig the game while maintaining the illusion of free market.
Big business being in bed with DC on a large scale is an indication that it's too late to reform our system. It is a sign our demise is baked into the cake.
This all has to do with Chiba and Wall Street CHEAP labor same with Chamber of Commerce and the Koch industry!! They don’t give a shit about Americans or the country that gave them their beginnings America has regulated them out of business here BUT with Trump rolling back regulations it has to be about LABOR and unions!!