MSNBC Host Succinctly Nails Problem With America's Most Outrageous Tax Loophole
MSNBC’s Stephanie Ruhle said there’s one tax loophole that nearly everyone on both sides of the aisle says should be closed. Yet, they’ve done nothing about it for years.
That may soon change as the deal struck last week between Sen. Joe Manchin (D-W.Va.) and Senate Majority Leader Chuck Schumer (D-N.Y.) could finally close what’s known as the carried interest loophole.
“Carried interest is a share of the profits that private equity or hedge fund managers take as compensation. It’s a performance fee,” Ruhle explained on MSNBC on Monday night. “And under existing law, this money earned by these executives ― a tiny group of the most highly compensated businesspeople on Earth ― they get taxed at a capital gains rate of just 20 percent.”
That is half the typical tax rate for other high-income earners.
https://www.yahoo.com/news/msnbc-host-succinctly-nails-problem-074540105.html
= new reply since forum marked as read
They need to close more of these loopholes that affect a few fabulously wealthy folks. If your local MAGA idiot complains that Dems are raising taxes, it will be fun to ask them to explain what carried interest is and how much taxes the MAGA idiot pays on it. (it's 0) 
