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Apr

27

Trump Tax Plan Silent on Carried Interest, a Boon for the Very Rich

By Tony Seruga

When the Trump administration unveiled its outline of a tax plan on Wednesday, officials trumpeted a bold promise to shave the corporate tax rate to a flat 15 percent and sharply reduce taxes for ordinary Americans.

But one crucial issue they left unaddressed: how the administration plans to deal with the so-called carried interest loophole, a tax treatment enjoyed by some of the richest people on Wall Street.

During the presidential campaign, Mr. Trump pledged to close the loophole and make its beneficiaries, private equity and hedge fund executives among them, pay their fair share of taxes. He once proclaimed that “hedge fund guys are getting away with murder.”

So far, it is unclear just how the skeletal proposal announced by the Trump administration on Wednesday will address this issue…

Trump Tax Plan Silent on Carried Interest, a Boon for the Very Rich

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