Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

DonViejo

(60,536 posts)
Thu Jun 16, 2016, 03:12 PM Jun 2016

Hillary Clinton vows to end “carried interest” loophole — even if Congress won’t

by Matthew Yglesias on June 16, 2016, 2:40 p.m. ET

Hillary Clinton rather casually mentioned in an interview with USA Today, published yesterday, something that's a really big deal — if elected president, she will direct the Treasury Department to close the so-called “carried interest” loophole that allows some financial managers to pay a lower tax rate than normal workers.

The Congressional Budget Office says this move would raise about $18 billion over 10 years, though some independent analysts like Victor Fleischer have come up with much higher numbers.

But it would also address what looks to most people like a question of basic fairness — one so elementary that politicians like Donald Trump and Jeb Bush have frequently made a big deal about on the campaign trail. They usually talk about closing the loophole in the context of overall plans to drastically lower taxes on high-income households. Meanwhile, Clinton’s proposal comes in the opposite context of an overall plan to modestly increase the taxes paid by the wealthiest Americans.

The notion that the Treasury Department can make this change unilaterally is a longtime contention of Alan Wilensky, who was a deputy assistant secretary at Treasury in the 1990s when fund managers began to exploit the opportunity to pay lower rates. President Obama’s Treasury Department has generally seemed to deny that it has such authority, but obviously a new administration could at least try to leave the courts to sort it out.

more
http://www.vox.com/2016/6/16/11955222/hillary-clinton-carried-interest

3 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Hillary Clinton vows to end “carried interest” loophole — even if Congress won’t (Original Post) DonViejo Jun 2016 OP
Some prior DU discussion on the USA today article here... PoliticAverse Jun 2016 #1
Well this position certainly proves she's in the pocket of Wall St. after all! LonePirate Jun 2016 #2
If she does it. Obama didn't talk about expanded spying powers or pushing the TPP on us villager Jun 2016 #3
 

villager

(26,001 posts)
3. If she does it. Obama didn't talk about expanded spying powers or pushing the TPP on us
Thu Jun 16, 2016, 04:04 PM
Jun 2016

...when he was on the campaign trail, either.

Latest Discussions»General Discussion»Hillary Clinton vows to e...