Are you ready for the election to be over? While all presidential elections seem to bring out some of the worst in people, this one appears to have reached new levels of animosity and contention, which is constantly on display in the media. It’s no secret that Donald Trump and Hillary Clinton do not like each other. In fact, it would seem that they don’t see eye-to-eye on any major, or even minor issues.
However, despite all the heated debate and the constant bickering that has headlined this election, believe it or not, the two candidates do actually agree on at least one thing. Both candidates reportedly feel that hedge fund managers should be paying higher taxes.
During the second national debate both candidates agreed that the carried interest tax loophole should be eliminated. Carried interest is the amount that hedge fund managers receive when their clients earn a profit on investment returns. Thanks to this loophole, hedge fund managers only pay 23.8 percent on this income instead of 39.6 percent.
This loophole has benefited many of the nation’s wealthiest households for years, but even some of its beneficiaries feel it should be repealed. So despite the rancor between the two presidential candidates, they will have the carried interest tax loophole in common. At least they can agree on that.
You also might like the article: Trump vs. Clinton and the Tax Plans We Could End Up With