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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.
first, if you want a mod's attention, you hit the red triangle on the top right and report yourself. I don't know why so many seem to think a moderator reads every thread or post.
Second, it probably belongs in the Sinema thread, because her objection is why carried interest was removed.
Which is also interesting, because she got her way but more importantly Manchin declared it HAD TO be in there if he was going to support.
Now, whether the Republicans can get these sound bites posted to the news instead of snippets of "mean Republicans!" then I guess we'll see.
That might be a good thing though. Some of these companies bought back billions in stock with PPP loan money.
if you could please provide the name of even 1 publicly-traded company that obtained a Paycheck Protection Program loan and used it to buyback stock, we would all be the wiser.
I mean, I am 99.99% certain you can't.
Shake Shack got a loan, but repaid it quickly because of the backlash.
AutoNation did the same.
After that, the largest traded companies had market caps well under $1B.
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.
Quote:
Originally Posted by saltine
Thank you. I cant tell you how many people get this wrong.
Status:
"everybody getting reported now.."
(set 22 days ago)
Location: Pine Grove,AL
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Quote:
Originally Posted by Grlzrl
Yeah, no they didn't.
If you understand that giving say an abortion clinic a 100K grant for breast cancer screening means that the clinic can then use their other saved funds for abortion care, then you also understand that giving a company 500 million in PPP loans/grants means they can then spend 500 million they had saved for employee payroll on stock buy backs
Status:
"everybody getting reported now.."
(set 22 days ago)
Location: Pine Grove,AL
29,551 posts, read 16,539,320 times
Reputation: 6039
Quote:
Originally Posted by Eyebee Teepee
if you could please provide the name of even 1 publicly-traded company that obtained a Paycheck Protection Program loan and used it to buyback stock, we would all be the wiser.
I mean, I am 99.99% certain you can't.
Shake Shack got a loan, but repaid it quickly because of the backlash.
AutoNation did the same.
After that, the largest traded companies had market caps well under $1B.
Publicly traded firms paid dividends, bought their own stock after receiving PPP loans to pay employees
This wasnt some secret conspiracy or something i just thought up. it was widely reported by major news outlets .
At this point im genuinely curious as to how multiple posters on this forum who have been here for years dont know about this ? Im sure there were threads on this issue that yall even posted in.
Status:
"everybody getting reported now.."
(set 22 days ago)
Location: Pine Grove,AL
29,551 posts, read 16,539,320 times
Reputation: 6039
Quote:
Originally Posted by Goodnight
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.
i think you replied to the wrong person.
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