On hedge fund managers.
Jeb Bush Wants Fewer Tax Breaks for Wealthy Than Most in GOP
Does this make him a liberal? Even though he wants to cut other taxes?
Specifically, he targeted two tax breaks popular on Wall Street: the deduction of interest on debt, which makes borrowing more attractive, and “carried interest,” which allows investment-fund managers to pay lower taxes on much of their compensation.
The plan provoked immediate criticism from the industries in Mr. Bush’s cross hairs. A spokesman for the Private Equity Growth Capital Council, the primary trade group for private-equity investors, said: “Increasing taxes on carried interest would discourage growth and investment, and would make our tax code more complex and less fair.”
The plan provoked immediate criticism from the industries in Mr. Bush’s cross hairs. A spokesman for the Private Equity Growth Capital Council, the primary trade group for private-equity investors, said: “Increasing taxes on carried interest would discourage growth and investment, and would make our tax code more complex and less fair.”
Jeb Bush Wants Fewer Tax Breaks for Wealthy Than Most in GOP
Does this make him a liberal? Even though he wants to cut other taxes?