Closing tax loopholes has been a big issue during this election. As a capitalist and former professor of tax, I’m against simplifying the tax code. The complexities of the system ensure that savvy business people use the law to their advantage and that Uncle Sam does not get more than he deserves. Show More Summary
Though the Republican nominee agrees the tax code is unfair, he has proposed nothing to eliminate any of the rules that allowed him to amass a fortune.
Find out exactly how the Democratic presidential candidate expects to change the U.S. tax system.
In 2002, Senator Hillary Clinton joined the Senate majority voting to close the loophole. But lucky for Trump, the legislative fix wasn't retroactive.
With about a month left in the 2016 Presidential election campaign, Donald Trump and Hillary Clinton have started to hammer home their stances on important policies. Few issues inspire more controversy than taxes, and the philosophical...Show More Summary
Sanders may not be the nominee, but that's not stopping him from taking on Trump.
The candidate's plan calls for raising taxes on the wealthy and closing loopholes.
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Clinton wants to close some of the loopholes Trump used. The GOP nominee wants to create more.
It appears that Donald Trump successfully lost $915 million in 1995. We say "successfully" because it allowed him to avoid paying federal income taxes for up to 18 years (at $50 million per year) and it may not have cost him a cent. How...Show More Summary
The Latest on the presidential race between Republican Donald Trump and Democrat Hillary Clinton (EDT): 10:00 a.m. Rudy Giuliani, a close adviser to Donald Trump, says the Republican candidate is … Click to Continue »
Rudy Giuliani, a close adviser to Donald Trump, says the Republican candidate is a "genius" if he avoided federal income taxes and noted that poor people can take advantage the same tax "loophole." Chris Christie says a new report showing...Show More Summary
The New York Times has recently published two opinion pieces, which argue opposite sides of the issue of the carried interest tax loophole. The first, Close My Tax Loophole, is by Alan Patricof, a co-founder and managing director of Greycroft, a venture capital firm. Show More Summary
Another super-wealthy investor came out the other day in favor of killing the notorious carried interest tax loophole. The latest public-spirited one-percenter is Alan Patricof, a pioneering venture investor. “Close My Tax Loophole,” he pleaded last week in a New York Times op-ed. The loophole,...
New York Times op-ed: Close My Tax Loophole, by Alan J. Patricof (Co-founder & Managing Director, Greycroft): My fellow venture capitalists and private equity investors are paying close attention to the heated election-year rhetoric about the future of “carried interest,” which is the performance fee we charge to manage other...
When the American economy is stuck in a rut, how do we get it moving again? We know the route to recovery: Cutting tax rates, closing loopholes, and broadening the base to encourage working and saving, building businesses and creating jobs. I've seen such strategy work before, and I know we can do it again. Show More Summary
New rules for valuation discounts will mean increased estate taxes for family business owners.
The Obama administration has made considerable progress over the past eight years to make our tax code fairer. This week, the Treasury Department is building on that progress through proposed new rules closing a loophole that allows some wealthy families to avoid paying their fair share in estate taxes. Show More Summary
In the aftermath of the Great Recession of 2008, amid the destruction of businesses, lives and trust, many clamored for accountability. People wanted trials, convictions, the closing of tax loopholes, and a broad repudiation of bankers being above the law. Nearly a decade after Lehman Brothers declared bankruptcy and the financial crisis unraveled, those calls have […]
New York Times Deal Book: The Carried Interest Loophole? What Loophole?, by Steven B. Klinsky (Founder & CEO, New Mountain Capital): Many politicians want to close the carried interest tax loophole for private equity managers. The only problem is, no such loophole exists.... Carried interest is just another term...