Trump Calls for End of Carried Interest Tax Break — The Information

Simplistically, there are two types of rich, those who use government to tilt the playing field in their favor and those who don’t. The former pay taxes at a rate well below the middle class and the latter pay at substantially higher rates. The blended rate of the two groups is similar to that paid by the upper middle class. But the politically con

“These guys all talk about the deficit, but there’s not a single tax benefit for the wealthy they’ll get rid of,” Dan Pfeiffer, Obama’s former communications adviser, later pointed out. “What really made them furious,” he said, “was when we started talking about closing the loopholes for private jets!”

When asked in a Bloomberg television interview if, given the dire state of the economy, his own taxes should be raised, Schwarzman, who was one of the most vigorous defenders of the carried-interest loophole, suggested that, to the contrary, the poor needed to pay more. “You have to have skin in the game,” he said. “The concept that half of the pub