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senate Bill S. 1020

Eliminating Tax Advantages for Investment Fund Managers

Argument in favor

The carried interest loophole benefits the wealthiest, most politically connected Americans who use it to pay a lower effective tax rate than many ordinary hard-working Americans. Managing partners at hedge funds and private equity firms need to pay their fair share of taxes.

Gfeiste's Opinion
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08/12/2017
When any small business makes a profit from their endeavors, the owners have to pay full income taxes. Just because investment managers and hedge fund managers are connected to Wall Street and persons in politics does not mean they should be exempt from taxes. It isn't targeting a specific industry - it is saying they can't be different than anyone else.
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Craig's Opinion
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08/12/2017
Eliminating tax loopholes for the 1% should be far more palatable to fiscal conservatives than "raising taxes". Let's seek areas such as this for moving bipartisan legislation forward!
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Paul's Opinion
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08/12/2017
The time is long past due that the most affluent start paying their fair share.
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Argument opposed

It would set a bad precedent for Congress to enact policy targeting the compensation system of one particular industry to score political points. Plus it would be of little fiscal benefit, as $1.5 billion annually in new tax revenue doesn’t help much with a budget deficit that tops $500 billion.

TuckerWantsLiberty's Opinion
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08/12/2017
What kind of arrogance do you have to have to think to yourself "We are allowing you to keep far too much of your income! We ought to be taking more of your money from you!" As if you have the first claim on their income. Want to eliminate their tax advantage? Then lower everyone else's taxes! There! Advantage gone!
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operaman's Opinion
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08/12/2017
Tammy waving the Socialist red flag. Wonder if she knows the difference between income and invested income. But like Progressives, they see others money as an investment in their future.
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JTJ's Opinion
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08/12/2017
No, vilification of the wealthy is the stupidest tactic in the democrats arsenal. Taxing the rich only raises prices for the rest of us. Stop buying into the wealth redistribution lies. Overhaul and simplify the tax code for everyone.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Finance
    IntroducedMay 3rd, 2017
    When any small business makes a profit from their endeavors, the owners have to pay full income taxes. Just because investment managers and hedge fund managers are connected to Wall Street and persons in politics does not mean they should be exempt from taxes. It isn't targeting a specific industry - it is saying they can't be different than anyone else.
    Like (130)
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    What kind of arrogance do you have to have to think to yourself "We are allowing you to keep far too much of your income! We ought to be taking more of your money from you!" As if you have the first claim on their income. Want to eliminate their tax advantage? Then lower everyone else's taxes! There! Advantage gone!
    Like (31)
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    Eliminating tax loopholes for the 1% should be far more palatable to fiscal conservatives than "raising taxes". Let's seek areas such as this for moving bipartisan legislation forward!
    Like (82)
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    The time is long past due that the most affluent start paying their fair share.
    Like (60)
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    Income derived from investments should be taxed at the same rate as income from labor.
    Like (39)
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    Yes. This is exactly the type of bill we need to see coming out of Congress. Unfair, prejudicial loopholes favoring the wealthy need to be eliminated from the tax code. Carried interest is income received just as my paychecks are and should be taxed in the same manner. This is income hedge fund managers and others regularly receive and use for expenses in much the same way the rest of us do with our earnings. There is really no difference and there shouldn't be any difference in the method of taxation. 45 himself has said so while stumping for votes. Indeed, this bill fulfills a promise 45 made to all of the everyday citizens who drank the orange Kool-aid. So put it on his desk and let him sign it or not. It will certainly be interesting to see whose interests he chooses to look out for and whether the liar, liar, pants on fire disappointment-in-chief will keep his promise to the people. I wouldn't hold my breath if I were you.
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    Tammy waving the Socialist red flag. Wonder if she knows the difference between income and invested income. But like Progressives, they see others money as an investment in their future.
    Like (24)
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    We need to stop letting wealthy make money off of our backs. Let's find more loopholes to close
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    No, vilification of the wealthy is the stupidest tactic in the democrats arsenal. Taxing the rich only raises prices for the rest of us. Stop buying into the wealth redistribution lies. Overhaul and simplify the tax code for everyone.
    Like (20)
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    Absolutely!!!! Not one penny in tax cuts for millionaires and billionaires and giant corporations. Not one fucking penny!
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    We, the people, are sick of being last on the list of benefits while the wealthy few pay their way into control of our country. Eliminate tax breaks for investment fund managers.
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    Include churches in that taxation break too. They obviously feel they can be political , so no more tax exempt status for them and their fake evangelical bigotry.
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    Absolutely. This loophole should have never been created in the first place.
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    Absolutely yes. Why should they have a loophole. Tax breaks only for creation of jobs, goods, and services. Not manipulation.
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    Yes!! Tax Wall Street!!
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    The carried interest loophole only helps the wealthiest, most politically connected Americans because they can get a much lower effective tax rate than many regular hard-working Americans. Managing partners at hedge funds and private equity firms need to pay their fair share of taxes. Who says $1.5 billion annually in new tax revenue doesn’t help much with a budget deficit. Any help is help. It's a way to help the reduction of the deficit.
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    Operaman voted against this, so that tells me the morally sound option is to vote "Yay". Dude is a nut job.
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    It's the fair way to do it.
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    Pay what ever their fair share should be
    Like (7)
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    S.1020: yes, pay income tax. It's time to end tax cuts and subsidies for big business, but retain for small business. Tax reform should end loopholes for the wealthy. If you make the money, rejoice and pay your fair share.
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