Low taxes on hedge fund managers, that is.
Trump says tax code is letting hedge funds 'get away with murder'
I happen to agree with Trump on this. As does Hillary Clinton. And Bernie Sanders.
But when I've discussed this with conservatives here on the board in the past, they've disagreed with me, saying hedge fund managers shouldn't pay higher taxes.
Republican presidential front-runner Donald Trump blasted hedge fund managers on Sunday as mere "paper pushers" who he said were "getting away with murder" by not paying their fair share of taxes.
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?"
Trump's comments were referring to the so-called "carried interest loophole" - a provision in the tax code which allows private equity and hedge fund managers pay taxes at the capital gains rate instead of the ordinary income rate.
Many fund managers are in the top income bracket, but the capital gains tax bracket is only 20 percent.
While these individuals are also required to pay an additional 3.8 percent surtax on their net investment income, this total rate is still far lower than the 39.6 percent rate that top wage earners must pay on their ordinary income.
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?"
Trump's comments were referring to the so-called "carried interest loophole" - a provision in the tax code which allows private equity and hedge fund managers pay taxes at the capital gains rate instead of the ordinary income rate.
Many fund managers are in the top income bracket, but the capital gains tax bracket is only 20 percent.
While these individuals are also required to pay an additional 3.8 percent surtax on their net investment income, this total rate is still far lower than the 39.6 percent rate that top wage earners must pay on their ordinary income.
Trump says tax code is letting hedge funds 'get away with murder'
I happen to agree with Trump on this. As does Hillary Clinton. And Bernie Sanders.
But when I've discussed this with conservatives here on the board in the past, they've disagreed with me, saying hedge fund managers shouldn't pay higher taxes.