[11th Commandment]

I realize this is a 6 day old story, but Rush was discussing Trump's position on Tax Carried Interest today. I searched the topic and this was the only thing I could find.

I am still studying this issue, but I think this is one of those transpartisan issues and Trump is on to something. Rush also pointed out the hedge fund guys are big democrats and they got congress to write the tax code to for Tax Carried Interest.

[11th Commandment]

http://www.bloomberg.com/politics/articles/2015-08-26/trump-puts-a-serious-wall-street-issue-on-the-table-hedge-fund-carried-interest

[Wolfie]

Indeed, Trump’s Flat Tax is the way to go.

[SubMareener]

Note that Trump’s tax plan in his 2011 book has a top marginal rate of 15%. So the folks paying 39% on ordinary income would get a tax cut and the people paying 20% on capital gains would get a tax cut.

[Raycpa]

He may be right on this loophole but he is simultaneously attacking Bush’s financiers.

[PGalt]

HOORAY Trump

[IC Ken]

Taxes keep coming in. Ever hear of the NIIT tax. Started in 2013. Net Investment Income tax. 3.8% Thank you liberals and GOP Congress.

[Red Badger]

Pardon my ignorance, but just what is ‘Tax Carried Interest’?..........................

[Logical me]

Trump is my man! He got this right again. What a fantastic America will become under his Presidency. His three tiered tax plan is right on and the middle would pay less taxes and the poor no tax until their income meet the bottom tax rate. The only real item is the rich will pay a honest tax and still might be lower.

[RginTN]

No. The govt doesn’t deserve a tax increase to then use that money to fund planned parenthood

[Skepolitic]

The failure of the Democrats to rid the tax code of the carried interest tax loophole is proof that all their talk about “equality” is bull.

Self-employed and moderately well compensated, my marginal tax rate is about 50% (federal income tax, self-employment tax, and state income tax). The hedge fund manager pays about 25% (20% federal capgains tax plus state.)

I don’t have any problem with a lower capgains rate, but carried interest is not a genuine capital gain; it is compensation for services rendered just like any other performance bonus.

But hedge fund managers are big-time contributors to both parties, and they have their way with politicians.

[Behind the Blue Wall]

I don’t consider closing lobbyist-protected loopholes to be the same things as raising taxes. If you close these kinds of loopholes, in addition to cutting spending, taxes can be much lower for everyone, not just those who can afford lobbyists.