MSNBC’s Stephanie Ruhle stated there’s one tax loophole that almost everybody on each side of the aisle says must be closed. But, they’ve finished nothing about it for years.
“Carried curiosity is a share of the earnings that non-public fairness or hedge fund managers take as compensation. It’s a efficiency payment,” Ruhle defined on MSNBC on Monday night time. “And below present regulation, this cash earned by these executives ― a tiny group of essentially the most extremely compensated businesspeople on Earth ― they get taxed at a capital features fee of simply 20 %.”
That’s half the everyday tax fee for different high-income earners.
“SO WHY DOES IT STILL EXIST?” she tweeted:
Watch her fuller clarification of the loophole ― and the one Democratic senator who may block closing it ― beneath. The clip additionally features a dialog with former Labor Secretary Robert Reich: