The greatest thing I ever heard from a Republican
In a telephone interview on CBS’s “Face the Nation,” Trump vowed to reform the tax laws if elected and said the current system was harming middle class Americans who currently faced higher tax rates than traders on Wall Street.
“The hedge fund guys didn’t build this country. These are guys that shift paper around and they get lucky,” Trump said.
“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?”
. . .
“Some of them are friends of mine. Some of them, I couldn’t care less about,” Trump said.
“It is the wrong thing. These guys are getting away with murder. I want to lower the rates for the middle class.”
Trump is talking about loopholes such as the one which allow hedge fund managers’ income to be taxed at the lower capital gains rate instead of the higher rate for ordinary income. There are also other loopholes available to hedge funds because they are partnerships, and partnerships have a lot of strange tax rules.
While many Democrats have rightly spoken out against loopholes, every other Republican seems to believe that loopholes in the tax code are fast ones that they pulled on the Democrats and not any sort of problem that needs to be fixed. Obviously I agree with Trump. It’s outrageous that people engaging in pure value transference (as Trump seems to understand) have a lower tax rate than people working at real value-creating jobs like engineers.
Trump is more than just the best immigration plan.
Thank you “Perez HBD” for the tip.