The Carried Interest loophole being closed is a nail in the coffin for US financial markets.
Frankfurt can handle more capital.
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“Eliminating the carried interest deduction has been a longtime priority of many on the left…”
Populism makes for strange bedfellows.
DB2
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I’ll believe it when it is proven to have actually happened. But if it does happen, I’ll give Trump credit for it. But the cynic in me says that the transactional nature of the Don is maneuvering for some payola from the HF industry.
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He just wants a “piece of the action” = political donations. THEN it all “goes away”.
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It’s something the last two or three presidents have said they wanted, but it never seems to go anywhere.
DB2
We need to lower the cost of capital here to get Frankfurt to invest in our industries. Ironically the lower cost of capital is a relative matter not an accounting matter.
As I wrote elsewhere a few days ago -
The 20% out of the “2 and 20” is the carried interest. They’re going to cancel the income tax break on carried interest. And then the hedge fundies and the PE folks are simply going to make the 20% a “tip” and maybe it’ll go completely untaxed. LOL!
The corporate tax rate affects them…that will be 15%.
The tip thing won’t happen. Surprise surprise surprise. TI is proving that offering to take up the student loan debt was false by saying something equally false.
My TI decoder ring is as screwy as anyone’s.