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Republicans had a 30 seat majority in the House and what, a 4 seat majority in the senate.
cant blame "partisanship" on that one.
The Tax Reform act in 2017 should have addressed carried interest, it was never in the bill. Republicans passed the bill on the senate and house, get your facts straight.
Hard to believe, but even a stopped clock is right twice per day.
One aspect of their proposed spending bill (the so called "Inflation Reduction Act"), which is looking more and more like a reality, is revising the way carried interest is taxed.
The rest of the bill is, for the most part, typical Dem nonsense. I'm no expert on carried interest, but taxing the fees hedge fund managers charge to manage someone else's money as regular income instead of capital gains makes perfect sense to me.
Thoughts?
EDIT 9:33am 8/5/22: I misread the article. The Carried Income loophole has been removed from the bill. As such, this thread is meaningless. Mods, please delete this thread if possible.
Interesting. So Sinema says she will support the bill as long as they allow wealthy hedge fund managers to continue dodging taxes?
Sinema may be about to vote NO on the "Inflation Increase Bill", scuttling it completely. If/when she does, the Democrats will have finally gotten something right.
Hard to believe, but even a stopped clock is right twice per day.
One aspect of their proposed spending bill (the so called "Inflation Reduction Act"), which is looking more and more like a reality, is revising the way carried interest is taxed.
The rest of the bill is, for the most part, typical Dem nonsense. I'm no expert on carried interest, but taxing the fees hedge fund managers charge to manage someone else's money as regular income instead of capital gains makes perfect sense to me.
Thoughts?
EDIT 9:33am 8/5/22: I misread the article. The Carried Income loophole has been removed from the bill. As such, this thread is meaningless. Mods, please delete this thread if possible.
No, mods please leave this thread active. It's extremely illuminating to those that don't like the reality, maybe they'll learn something?
Well the Dems have to start playing Robin hood, taking from those that do to give hand outs to those that cannot or refuse to...
Don't forget we are on track to have 2 million New Americans this year alone and it is not cheap to house, clothe, feed, give healthcare to and educate them. Someone has to pay for all that.
I don't know but increasing taxes is not something I consider to be "right".
Might want to watch the movie more carefully. Robin Hood took money from the government, specifically from the tax collectors, and returned it to the producers. The Dems are no "Robin Hoods", they are the Sheriffs of Nottingham.
Well the Dems have to start playing Robin hood, taking from those that do to give hand outs to those that cannot or refuse to...
Don't forget we are on track to have 2 million New Americans this year alone and it is not cheap to house, clothe, feed, give healthcare to and educate them. Someone has to pay for all that.
I don't know but increasing taxes is not something I consider to be "right".
We will one day reach the point of there is nothing left to take.
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Quote:
Originally Posted by Toyman at Jewel Lake
Might want to watch the movie more carefully. Robin Hood took money from the government, specifically from the tax collectors, and returned it to the producers. The Dems are no "Robin Hoods", they are the Sheriffs of Nottingham.
Thank you. I cant tell you how many people get this wrong.
As with any bill either side passes, the issues are as follows.
1) Follow the money. Allotting money for any particular cause is not the same thing as making sure those monies are used properly and efficiently. Nobody ever seems to understand this.
2) It's the small print details that no one pays attention to in any of these bills. That's where the bad stuff is located.
3) All the other pork and nonsense added into bills, which have nothing to do with what they claim the bill is about.
Hard to believe, but even a stopped clock is right twice per day.
One aspect of their proposed spending bill (the so called "Inflation Reduction Act"), which is looking more and more like a reality, is revising the way carried interest is taxed.
The rest of the bill is, for the most part, typical Dem nonsense. I'm no expert on carried interest, but taxing the fees hedge fund managers charge to manage someone else's money as regular income instead of capital gains makes perfect sense to me.
Thoughts?
EDIT 9:33am 8/5/22: I misread the article. The Carried Income loophole has been removed from the bill. As such, this thread is meaningless. Mods, please delete this thread if possible.
Actually, the fact that Schumer took it out AND that we all learned Sinema’s price for her Vote is pretty darn meaningful.
Quote:
Originally Posted by Ponderosa
Nope. They took it out. Sinema did not like it. They are going to tax stock buybacks instead. That will lead to more revenue but not address the shameful inequity.
She got a couple of other things also— Manchin only got to keep his Chairmanship.
Quote:
Originally Posted by Goodnight
Hedge fund managers were the beneficiaries of carried interest, they can buy more private jets.
Good to know the Democrats are voting in Favor of that massive Tax Break for their Campaign Donors.
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