Obama has power to end Hedge Fund Tax Loophole

[dtownreppin214]

Breh is kinda hedging on this issue.

http://www.nytimes.com/2016/05/08/b...ay-not-take-act-of-congress.html?ref=business

There is a lot about this problem of income inequality — and about the economy over all — that Mr. Obama cannot control. Still, there is something he could do right now to help narrow the widening gulf between rich and poor.


In one deft move, Mr. Obama could instruct officials at his Treasury Department to close the so-called carried interest tax loophole that allows managers of private equity and hedge funds to pay a substantially lower federal tax rate on much of their income.

Forcing these managers to pay ordinary income taxes on the gains they reap in their funds would accomplish two things. It would take away an enormous benefit enjoyed almost exclusively by some of the country’s wealthiest people. And, tax experts say, it would generate billions in revenue to the government each year, though there are wide differences over exactly how much.

But doesn’t changing the carried interest loophole require an act of Congress? Not according to an array of tax experts. Just as Mr. Obama’s Treasury Department recently changed the rules to curb corporate inversions, in which companies shift their official headquarters to another country to lower their tax bills, the Treasury secretary, Jacob J. Lew, and his colleagues could jettison the carried interest loophole.

Read More: http://www.nytimes.com/2016/05/08/b...ay-not-take-act-of-congress.html?ref=business

 

[Cynic]

Wishful thinking.

 

[Gentility]

 

[CACtain Planet]

gearing up for the inevitable @ThreeLetterAgency spin

 

[☑︎#VoteDemocrat]

gearing up for the inevitable @ThreeLetterAgency spin

what can be done with executive orders can be undone with executive orders

 

[CACtain Planet]

lmao like clockwork

 

[Good Guy Guevara]

But he won't do it

 

[CHL]

Yet another move in his 3 dimensional chess

He's really a progressive

 

[dtownreppin214]

I love Obama but this is funny style

James Simons, who along with wife Marilyn has donated $500,000 to $1 million to the Obama Foundation, is the founder of investment management firm Renaissance Technologies. Since 2009, Renaissance has spent nearly $3 million lobbying the federal government. Recently, the company has listed issues in its lobbying disclosure reports like “tax issues related to hedge funds” and derivatives taxation.

 

[5n0man]

You know the people that pay obama will not allow that to happen

 

[tmonster]

neeeeeever gonna happen
if it does it will be in appearance only, like the resolutions to stop congressional insider trading