No, this posting is not about the deep state's duplicitous revealing of hundreds of Trump campaign staffer's names in NSA intercepts. It's about Congress' hiding their votes for unpopular things like the "carried interest" tax treatment.
There needs to be an unmasking of all those pretenders in Congress regarding their position on this special tax rate for hedge fund managers. Now that the Republican tax reform package has been passed, there is now an opportunity for some brave lawmaker to introduce a law specifically rescinding this 15% carried-interest tax treatment. Nothing else included ... just this one item ... no other provisions to hide behind or confuse things. Wouldn't it be great to see exactly how all in Congress, Democrat and Republican, feel about this specific tax give-away?
I think we might see some surprises as to who votes yea and nay. Only one problem, however ...
It will never happen ... for the obvious reason that no one there wants such a political unmasking.
Seems to me that they reinforced the carried interest technique by allowing for pass-through income for everyone that can set up their business to filter their salary into lower tax rate income.
ReplyDeletePossibly. The IRS has supposedly set up a unit to stop such shinnanigans. They can start with all LLCs set up over 2017 and 2018 ...
DeleteAvoiding a higher tax rate that way is smart as DJT would say.
DeleteI think (hope?) there are rules as to what is a legal LLC. Not one just set up just to avoid taxes.
DeleteT'ain't a shennanagin if its legal...
ReplyDelete