Obama Could Close the Carried Interest Loophole Today
Submitted by Meteor Man on Mon, 06/13/2016 - 7:05pmIf he wanted to. Explained at Down With Tyranny:
Hedge fund "managers also receive 20 percent of gains that their funds generate over time, known as carried interest. These profits are taxed at the lower capital gains rate, thanks to a 1993 ruling by the Treasury and the Internal Revenue Service.
Who are a few of the beneficiaries?