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When are we going to elimate the "carried interest" tax rules?

FelixDeCat

FelixDeCat

Lifer
What also ticks me off is that they still wont get rid of the "carried interest" rule that allows hedge fund types to get extremely fat paychecks taxed at a top rate of 23%. Obama and Trump both promised to do something but did nothing when lobbyists make annual payments to Dems and Repubs to quash such talk and refuse to include any changes to this tax policy.

In case you've never heard of the carried interest rules there are primers out there. On the surface it seems fair and reasonable and has been around for a very long time going back to the early 1900s to reward those who took risks like oil and gas exploration companies using private capital who risked everything. It encouraged risk taking. Over time the definition changed to include hedge fund managers, private equity types, etc.

The top 25 highest earning fund managers paid less as percentage in taxes than those making $40,000 a year.

https://www.forbes.com/sites/nathanvardi/2017/03/14/hedge-fund-managers/#7d6416226e79

In total, the 25 highest-earning hedge fund managers and traders made a combined $10.9 billion in 2016, less than the $12 billion the 25 top-earning hedge fund managers and traders together made in 2015. Forbes includes in its analysis hedge fund managers and traders who now mostly or even exclusively manage their own money.

David Tepper, whose Appaloosa Management hedge fund firm now manages $17 billion, earned an estimated $750 million in 2016. While Ken Griffin, who runs hedge fund firm Citadel, earned $500 million. Both Tepper and Griffin are widely viewed as among the industry’s elite and churned out respectable years in 2016, but their main funds underperformed the U.S. stock market.
Click to expand...

So lets see...

1) Underperform the market
2) Get paid a half billion dollars a year to do it...and...
3) Get a fcking tax break from 39% to just 23% because you need a helping hand making that much money

...ok.
 
Trump said he would get rid of it so... the next admin? Of course never.

Fun fact. Now private equity can use the pass thru as well. Way to go Trump!
 
FelixDeCat said:
What also ticks me off is that they still wont get rid of the "carried interest" rule that allows hedge fund types to get extremely fat paychecks taxed at a top rate of 23%. Obama and Trump both promised to do something but did nothing when lobbyists make annual payments to Dems and Repubs to quash such talk and refuse to include any changes to this tax policy.

In case you've never heard of the carried interest rules there are primers out there. On the surface it seems fair and reasonable and has been around for a very long time going back to the early 1900s to reward those who took risks like oil and gas exploration companies using private capital who risked everything. It encouraged risk taking. Over time the definition changed to include hedge fund managers, private equity types, etc.

The top 25 highest earning fund managers paid less as percentage in taxes than those making $40,000 a year.

https://www.forbes.com/sites/nathanvardi/2017/03/14/hedge-fund-managers/#7d6416226e79



So lets see...

1) Underperform the market
2) Get paid a half billion dollars a year to do it...and...
3) Get a fcking tax break from 39% to just 23% because you need a helping hand making that much money

...ok.
Click to expand...
Liberal parody troll is a parody.
 
Right after you go fuck yourself.

Unnecessary. Dial it back.
admin allisolm
 
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