Apparently, the whole reason that Arizona Democrat Senator, Kyrsten Sinema was against the proposed multi billion dollar climate change and liberal spending bill only because of the “carried interest tax loophole” closure.
Senate Majority Leader, Chuckles Schumer had no choice but to remove that provision from the bill in order to persuade Sinema to get on board. Once that was out of the bill, she was OK with the rest of it apparently.
The bill was designed to charge money managers with an additional tax because of a loophole Schumer wanted to close. Schumer claimed that because of that loophole, money advisors were able to pay less tax than most middle and lower income people. Personally, I don’t buy that since 48% of Americans don’t pay any income tax at all. That would include most middle and lower income people!
By taking the closure of the loophole out of the…
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