Kyrsten Sinema reportedly wants to block Democrats from narrowing the carried interest loophole benefiting rich investors

[Penelope]

But that compensation is taxed at a lower capital gains rate that maxes out at 23.8% and doesn't face a higher income tax rate like most Americans pay on wages from their job. Critics argue it amounts to a major hole in the tax code.

Kyrsten Sinema reportedly wants to block Democrats from narrowing the carried interest loophole benefiting rich investors

Obama and Trump both tried and failed to close the carried interest loophole. Biden's big bill hangs in the balance with Sinema still undecided.

www.businessinsider.com

We all pay taxes!!

 

[Penelope]

What is carried interest, how is it taxed, and why should Congress act? Carried interest (“carry,” “incentive,” “promote”) is a form of compensation received by a fund manager in exchange for investment management services. A carried interest entitles a fund manager to future profits of a partnership, also known as a “profits interest.” Under current law, a fund manager is generally not taxed when a profits interest is issued and only pays tax when income is realized by the partnership, often in connection with the sale of an investment that happens years down the road. Not only does this allow a fund manager to defer paying tax, but the eventual income from the partnership almost always takes the form of capital gain income, taxed at a preferential rate of 23.8 percent compared to the top rate of 40.8 percent for wage-like income. The carried interest loophole is enjoyed by some of the country’s wealthiest people. No one should be able to play by a different set of rules, no matter how wealthy or well-connected. With income inequality soaring, it is time for Congress to act to close this loophole for good.

https://www.finance.senate.gov/imo/media/doc/Ending%20the%20Carried%20Interest%20Loophole%20Act%20%20of%202019%20One%20Pager.pdf

 

[1srelluc]

Meet the new power broker....Same as the old one.

 

[shockedcanadian]

But that compensation is taxed at a lower capital gains rate that maxes out at 23.8% and doesn't face a higher income tax rate like most Americans pay on wages from their job. Critics argue it amounts to a major hole in the tax code.

Kyrsten Sinema reportedly wants to block Democrats from narrowing the carried interest loophole benefiting rich investors

Obama and Trump both tried and failed to close the carried interest loophole. Biden's big bill hangs in the balance with Sinema still undecided.

www.businessinsider.com

We all pay taxes!!

So if I am reading this correctly, Manchin submarined his career to support this Bill and Kyrsten is wisely defending her future prospects in AZ by going against this bill.

Am I correct or wrong on any or all of these assumptions?

 

[Mikeoxenormous]

But that compensation is taxed at a lower capital gains rate that maxes out at 23.8% and doesn't face a higher income tax rate like most Americans pay on wages from their job. Critics argue it amounts to a major hole in the tax code.

Kyrsten Sinema reportedly wants to block Democrats from narrowing the carried interest loophole benefiting rich investors

Obama and Trump both tried and failed to close the carried interest loophole. Biden's big bill hangs in the balance with Sinema still undecided.

www.businessinsider.com

We all pay taxes!!

Only stupid people pay their fair share. Look at the poor, they dont pay shit, yet use all the amenities this country gives to the tax payer. Tax the poor like they tax everyone else, then there is a surplus of money, Florida is a perfect example of it, because of the sales tax that affects everyone, especially the rich. But the Democrats dont want this taxation remedy because the Democrats use Taxes as a tool to fool the uneducated morons that vote for them.

 

[TNHarley]

With income inequality soaring

The covid shutdowns caused the BIGGEST TRANSFER OF WEALTH IN HISTORY and you supported that. Hell, you even wanted people to die for not adhering to the draconian rules.
Go ahead and act like you actually care some more. I need a good laugh.

 

[Hang on Sloopy]

But that compensation is taxed at a lower capital gains rate that maxes out at 23.8% and doesn't face a higher income tax rate like most Americans pay on wages from their job. Critics argue it amounts to a major hole in the tax code.

Kyrsten Sinema reportedly wants to block Democrats from narrowing the carried interest loophole benefiting rich investors

Obama and Trump both tried and failed to close the carried interest loophole. Biden's big bill hangs in the balance with Sinema still undecided.

www.businessinsider.com

We all pay taxes!!

People making 50k or under pay little in income taxes. They need to rely on the 20% that produce to keep the little birdies with open mouths waiting for a worm

Hopefully Kristen Big Boobs shoots this down

 

[Penelope]

New Financial Disclosures Show Kyrsten Sinema Is Raking in Cash from Big GOP Donors

Sen. Krysten Sinema (D-Ariz.) is raising a ton of money from Republican donors ahead of her 2024 election, new financial disclosures reveal.

www.rollingstone.com

that missing part is

Cash from Big GOP Donors​

 

[Penelope]

People making 50k or under pay little in income taxes. They need to rely on the 20% that produce to keep the little birdies with open mouths waiting for a worm

Hopefully Kristen Big Boobs shoots this down

They pay sales tax and fed tax , why should rich people pay less taxes?
The republicans say the poor should have pay more in taxes.

 

[Penelope]

Sinema drew money from additional Republican megadonors like financier George Roberts, groups like the American Petroleum Institute, and companies like Fox News, whose political action committee, Fox Corp. PAC, gave her $5,000. Manchin has also received money from Fox Corp. PAC.

New Financial Disclosures Show Kyrsten Sinema Is Raking in Cash from Big GOP Donors

Sen. Krysten Sinema (D-Ariz.) is raising a ton of money from Republican donors ahead of her 2024 election, new financial disclosures reveal.

www.rollingstone.com

They are republicans, Sinema and Manchin.

 

[Penelope]

Only stupid people pay their fair share. Look at the poor, they dont pay shit, yet use all the amenities this country gives to the tax payer. Tax the poor like they tax everyone else, then there is a surplus of money, Florida is a perfect example of it, because of the sales tax that affects everyone, especially the rich. But the Democrats dont want this taxation remedy because the Democrats use Taxes as a tool to fool the uneducated morons that vote for them.


View attachment 677921

Nowdays 15.00 an hour, if a person works 2080 hours, is 31,200. We need to raise that up.

More with inflation, the rich guy loves it, it makes rich people not feeling , but rich people gripe. if a person make 15 bucks and hour and if he works full time, one can hardly feed or clothe himself. What the heck do you want them to do.

 

[22lcidw]

Only stupid people pay their fair share. Look at the poor, they dont pay shit, yet use all the amenities this country gives to the tax payer. Tax the poor like they tax everyone else, then there is a surplus of money, Florida is a perfect example of it, because of the sales tax that affects everyone, especially the rich. But the Democrats dont want this taxation remedy because the Democrats use Taxes as a tool to fool the uneducated morons that vote for them.


View attachment 677921

I guarantee you if you get a pure oh golly Christian doing your taxes and a person who has Christian background you will get two different returns in your refund.

 

[theHawk]

They pay sales tax and fed tax , why should rich people pay less taxes?
The republicans say the poor should have pay more in taxes.

It’s called everyone pays their fair share.

 

[tyroneweaver]

Meet the new power broker....Same as the old one.

But this one is pretty nice looking

 

[theHawk]

More with inflation, the rich guy loves it, it makes rich people not feeling , but rich people gripe. if a person make 15 bucks and hour and if he works full time, one can hardly feed or clothe himself. What the heck do you want them to do

There was a time in America when a man with just a high school diploma could afford a house and raise a family with four or more kids.

Then you lefties fucked everything up.

 

[ReinyDays]

I don't have a problem with taxes due when the gains are realized ... or a system where gains realized are taxes every three months ... the important point is we pay taxes from the money we get in-hand ... not before ...

Yes ... the Capital Gain Tax Rate is a give-a-way to the Rich ... and it was worse under George XLIII ... this is the mechanism for which the Rich keep getting Richer and the Middle Class gets taxes out of existence ... because your Congress hates you ...

It's blind stupid to think the Rich will stop investing if this Capital Gains tax rate goes up ... they're already taking their money off-shore where and when better opportunities exist ... regardless of the tax implications ... 100% margins at 40% tax rate is better than 50% margins at 20% tax rate, always ...

Oregon has a theoretical "flat tax" of 9% on all income, including Capital Gains ... there are some exceptions but none of them fit my business models, sometimes it's just easier writing the check than it is to jump through 50 flaming hoops ... I did some ADA improvement that actually cost me money, no taxes due anyway, so the tax break was completely useless to me ... folks receiving disability payments can't afford ADA improvements ... sad but true ...

But if you don't mind me only paying 2% of my income on Federal Taxes ... then I sure as hell won't ... leave things the way they are I say ... and thank you for paying my fair share of the tax load ...

 

[ReinyDays]

There was a time in America when a man with just a high school diploma could afford a house and raise a family with four or more kids.

Then you lefties fucked everything up.

I don't have a high school diploma ... I worked hard and managed my money ... bought a home, leveraged it into rentals, feeding six kids (only three were mine), and retired early ...

If these are things you want ... then skip school, you're better off going into the construction workforce as early as you can ... if you're smart enough for college, then you're smart enough to be earning 6 figures by 25 as a construction contractor ...

School is for lazy people who hate hard labor ... engineering is for girls, their hard labor comes bearing children ...

 

[Mikeoxenormous]

They pay sales tax and fed tax , why should rich people pay less taxes?
The republicans say the poor should have pay more in taxes.

Bitch , look at the chart i just showed, the top 0.1 % pay the most in taxes while the fucking poor pay the least in taxes. Time for the poor to shell out more.

 

[Mikeoxenormous]

Nowdays 15.00 an hour, if a person works 2080 hours, is 31,200. We need to raise that up.

More with inflation, the rich guy loves it, it makes rich people not feeling , but rich people gripe. if a person make 15 bucks and hour and if he works full time, one can hardly feed or clothe himself. What the heck do you want them to do.

Oh so now 15 bucks an hour doesnt make it in Joe the shitter in chief's economy? Whose fucking fault is that? Look in the mirror dumbass and say, i did that....

 

[basquebromance]