MSNBC’s Stephanie Ruhle mentioned there’s one tax loophole that just about everybody on either side of the aisle says needs to be closed. Yet, they’ve carried out nothing about it for years.
“Carried interest is a share of the profits that private equity or hedge fund managers take as compensation. It’s a performance fee,” Ruhle defined on MSNBC on Monday evening. “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 standard tax fee for different high-income earners.
“SO WHY DOES IT STILL EXIST?” she tweeted:
Watch her fuller rationalization of the loophole ― and the one Democratic senator who may block closing it ― under. The clip additionally features a dialog with former Labor Secretary Robert Reich: