dude owns a set
Trump turns fire on hedge fund managers
Barney Jopson in Washington
Donald Trump on Sunday turned his fire on hedge fund managers, calling them “paper-pushers” who do not pay their fair share of tax, in the latest attack of his bombastic presidential campaign.
The billionaire’s comments add a new dimension to his unorthodox campaign because support for ending the so-called “carried interest loophole” stretches across party lines, encompassing conservatives as well as Democrats.
President Barack Obama has called for the tax break to be eliminated as has Hillary Clinton, front-runner for the Democratic presidential nomination, who has said it is wrong that hedge fund managers “pay lower taxes than nurses”.
Vowing to reform the tax law, Mr Trump said on Sunday that he would target hedge fund managers. “They are energetic. They are very smart. But a lot of them — they are paper-pushers. They make a fortune. They pay no tax. It’s ridiculous, OK?” he told CBS television.
“The hedge fund guys didn’t build this country. These are guys that shift paper around and they get lucky.”
While his campaign has been light on policy details, Mr Trump has captivated the US with his penchant for throwing barbs at an eclectic mix of targets ranging from Mexican immigrants to a Fox news anchor.
Mitt Romney, a former private equity executive who was never fully embraced by many conservatives, was hurt in the 2012 presidential campaign by Mr Obama’s success in launching attacks on his low tax rate.
The top tax rate on capital gains is 20 per cent, significantly lower than the top rate of more than 40 per cent on regular income.
In an interview during the 2012 campaign, Mr Romney made the argument — also heard from Wall Street’s allies — that it is fair for wealthy individuals to pay a low capital gains tax because it encourages investment.
In the Republican establishment, views on carried interest are varied.
Last year Dave Camp, then the top Republican tax writer in the House of Representatives, proposed to change the treatment of carried interest in a sweeping plan for tax reform that did not gain traction.
The Republican majority leader in the House at the time was Eric Cantor, who was close to Wall Street and had defended the status quo. Mr Cantor left the House after a stunning defeat to a candidate affiliated with Tea Party conservatives in an intraparty election last June.
http://www.ft.com/intl/cms/s/0/cc67209e-49d2-11e5-9b5d-89a026fda5c9.html#axzz3jhYDqbZ7
Mr Trump said he would not be deterred by his relationships with hedge fund managers. “Some of them are friends of mine, some of them I couldn’t care less about,” he said. “It’s the wrong thing. These guys are getting away with murder. I want to lower the rates for the middle class.”
The Managed Funds Association, a trade group for hedge funds in Washington, declined to comment.
Mr Trump, who leads the race for the Republican presidential nomination, indicated he would close a loophole that lets hedge fund and private equity managers pay taxes at a lower capital gains rate instead of as income tax.
http://www.ft.com/intl/cms/s/0/cc67209e-49d2-11e5-9b5d-89a026fda5c9.html#axzz3jhYDqbZ7
saw this on an alternative website
How the vultures of hedge funds 'maul' the indebted states
Greece, Puerto Rico and Detroit have something else in common apart from the default
http://failedevolution.blogspot.gr/2015/08/how-vultures-of-hedge-funds-maul.html
Trump turns fire on hedge fund managers
Barney Jopson in Washington
Donald Trump on Sunday turned his fire on hedge fund managers, calling them “paper-pushers” who do not pay their fair share of tax, in the latest attack of his bombastic presidential campaign.
The billionaire’s comments add a new dimension to his unorthodox campaign because support for ending the so-called “carried interest loophole” stretches across party lines, encompassing conservatives as well as Democrats.
President Barack Obama has called for the tax break to be eliminated as has Hillary Clinton, front-runner for the Democratic presidential nomination, who has said it is wrong that hedge fund managers “pay lower taxes than nurses”.
Vowing to reform the tax law, Mr Trump said on Sunday that he would target hedge fund managers. “They are energetic. They are very smart. But a lot of them — they are paper-pushers. They make a fortune. They pay no tax. It’s ridiculous, OK?” he told CBS television.
“The hedge fund guys didn’t build this country. These are guys that shift paper around and they get lucky.”
While his campaign has been light on policy details, Mr Trump has captivated the US with his penchant for throwing barbs at an eclectic mix of targets ranging from Mexican immigrants to a Fox news anchor.
Mitt Romney, a former private equity executive who was never fully embraced by many conservatives, was hurt in the 2012 presidential campaign by Mr Obama’s success in launching attacks on his low tax rate.
The top tax rate on capital gains is 20 per cent, significantly lower than the top rate of more than 40 per cent on regular income.
In an interview during the 2012 campaign, Mr Romney made the argument — also heard from Wall Street’s allies — that it is fair for wealthy individuals to pay a low capital gains tax because it encourages investment.
In the Republican establishment, views on carried interest are varied.
Last year Dave Camp, then the top Republican tax writer in the House of Representatives, proposed to change the treatment of carried interest in a sweeping plan for tax reform that did not gain traction.
The Republican majority leader in the House at the time was Eric Cantor, who was close to Wall Street and had defended the status quo. Mr Cantor left the House after a stunning defeat to a candidate affiliated with Tea Party conservatives in an intraparty election last June.
http://www.ft.com/intl/cms/s/0/cc67209e-49d2-11e5-9b5d-89a026fda5c9.html#axzz3jhYDqbZ7
Mr Trump said he would not be deterred by his relationships with hedge fund managers. “Some of them are friends of mine, some of them I couldn’t care less about,” he said. “It’s the wrong thing. These guys are getting away with murder. I want to lower the rates for the middle class.”
The Managed Funds Association, a trade group for hedge funds in Washington, declined to comment.
Mr Trump, who leads the race for the Republican presidential nomination, indicated he would close a loophole that lets hedge fund and private equity managers pay taxes at a lower capital gains rate instead of as income tax.
http://www.ft.com/intl/cms/s/0/cc67209e-49d2-11e5-9b5d-89a026fda5c9.html#axzz3jhYDqbZ7
saw this on an alternative website
How the vultures of hedge funds 'maul' the indebted states
Greece, Puerto Rico and Detroit have something else in common apart from the default
http://failedevolution.blogspot.gr/2015/08/how-vultures-of-hedge-funds-maul.html
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That unfiltered ether.
the "right" kind of people?
