“The hedge fund guys are getting away with murder…” – Donald Trump on August 23rd, 2015 on how hedge fund managers only pay 20% on some of their income by using the carried interest loophole. A tax rate that is lower than the rate what middle class families pay. President Donald Trump on Wednesday is planning to unveil a proposal to cut corporate taxes on U.S....

HEDGE PAPERS NO. 48: ILLINOIS BILLIONAIRES AND THEIR LUCRATIVE LOOPHOLE

19 Apr 2017
How Illinois Can Raise Billions by Taxing Carried Interest ACROSS THE COUNTRY, STATES LIKE ILLINOIS STAND TO GAIN BILLIONS OF DOLLARS IN REVENUE BY CLOSING THE CARRIED INTEREST LOOPHOLE. Across the country, states like IL stand to gain billions by closing the carried interest loophole. Click To Tweet IT’S A LONG OVERDUE ELEMENT OF FINANCIAL REFORM THAT THE FEDERAL GOVERNMENT HAS FAILED TO ENACT, DESPITE BIPARTISAN SUPPORT FOR TAX FAIRNESS.... Read More

UPDATE #HedgePapers No. 26 – Puerto Rico: Pain and Profit

21 Mar 2017
UPDATE: After years of crisis and austerity that have resulted in a poverty rate of 45 percent, it’s hard to imagine that conditions could get much worse for the people of Puerto Rico. But if the island’s bondholders have their way, that’s exactly what’s going to happen. Puerto Rico is facing a new round of draconian budget cuts that promise to intensify the hardships that the population is already facing.... Read More

HEDGE PAPERS NO. 47 CLOSING A LUCRATIVE LOOPHOLE TO HELP OUR COMMUNITIES

16 Mar 2017
Across the country, states stand to gain billions of dollars in revenue by closing the carried interest loophole.  It’s a long overdue element of financial reform that the federal government has failed to enact, despite bipartisan support for tax fairness. In last year’s Presidential campaign, Donald Trump, Hillary Clinton, Bernie Sanders, and Jeb Bush all called for closing a tax break known as the “carried interest loophole,” a legal fiction used by private equity firms and other members off the wealthy elite to lower their federal tax rates below those paid by many working Americans.[1] These financiers charge a fee for investing other peoples’ money – and call it “carried interest” to get a lower tax rate than kindergarten teachers and truck drivers.[2] Presidential candidates in both parties, experts, advocates and everyday Americans all agree that Wall Street millionaires and billionaires should not get preferential treatment on their taxes.[3] It’s unfair and wrong.... Read More

HEDGE PAPERS NO. 46: NEW YORK’S BILLIONAIRES AND THEIR LUCRATIVE LOOPHOLE

7 Mar 2017
How Our State Can Raise Billions by Taxing Carried Interest  Across the country, states like New York stand to gain billions of dollars in revenue by closing the carried interest loophole.  It’s a long overdue element of financial reform that the federal government has failed to enact, despite bipartisan support for tax fairness.... Read More

HEDGE PAPERS NO. 45: CLOSING A LUCRATIVE LOOPHOLE TO HELP OUR COMMUNITIES

28 Feb 2017
  How Maryland Can Raise Millions by Taxing Carried Interest Across the country, states stand to gain billions of dollars in revenue by closing the carried interest loophole.  It’s a long overdue element of financial reform that the federal government has failed to enact, despite bipartisan support for tax fairness. In last year’s Presidential campaign, Donald Trump, Hillary Clinton, Bernie Sanders, and Jeb Bush all called for closing a tax break known as the “carried interest loophole,” a legal fiction used by private equity firms and other members off the wealthy elite to lower their federal tax rates below those paid by many working Americans.[1] These financiers charge a fee for investing other peoples’ money – and call it “carried interest” to get a lower tax rate than kindergarten teachers and truck drivers.[2] Presidential candidates in both parties, experts, advocates and everyday Americans all agree that Wall Street millionaires and billionaires should not get preferential treatment on their taxes.[3] It’s unfair and wrong.... Read More

HEDGE PAPERS NO. 44: HOW HEDGE FUNDS RIP OFF OHIO UNIVERSITY ENDOWMENTS

17 Feb 2017
How Ohio Students, Taxpayers & Communities Suffer The Great Recession took an immeasurable toll on Ohio’s colleges and universities–and eight years later, Ohio’s higher education system has yet to recover. State funding was cut, tuition was increased, and university endowments lost huge amounts in market losses – and have since lost even more to exorbitant fees charged by greedy Wall Street hedge fund managers.... Read More

TRUMP’S BILLIONAIRE CABINET: How They Harm Working People and Take America’s Wealth for Themselves

14 Feb 2017
Context: As President, Trump Elevates the Wall Street Elite He Criticized as a Candidate Last year, throughout his presidential campaign, Donald Trump harnessed populist anger at the wealthy elite, and presented himself as an outsider who will stand up for working people. At an August 2015 appearance on CBS, Trump said that “hedge funds guys are getting away with murder,” earning “a hell of a lot of money and not paying taxes.”[1] He slammed the “global special interests rigging the system” against working class Americans.[2] Candidate Trump criticized excessive CEO compensation, saying “you see these guys [CEOs] making these enormous amounts of money and it’s a total and complete joke.”[3] Speaking about his tax plan, he claimed “no one will gain more from these policies than low and middle income Americans.”[4] He vowed to drain the “swamp” of political insiders and financial elite.... Read More

HEDGE PAPERS NO. 43: CONNECTICUT BILLIONAIRES AND THEIR LUCRATIVE LOOPHOLE

7 Feb 2017
How We Can Raise Hundreds of Millions by Taxing Carried Interest Across the country, states stand to gain billions of dollars in revenue by closing the carried interest loophole.  It’s a long overdue element of financial reform that the federal government has failed to enact, despite bipartisan support for tax fairness.... Read More

Hedge Papers No. 42: BILLIONAIRES LEON BLACK & STEPHEN SCHWARZMAN ATTACK MOMENTIVE AND UPSTATE NEW YORK

23 Jan 2017
With national attention focused on populist anger over Wall Street’s role in rigging the economy, more and more Americans are taking a growing interest in the business practices of billionaire investors and money managers. Wall Street multimillionaires and billionaires have captured unprecedented wealth, even as the rest of the economy sputters and working families see their incomes stagnate or decline.... Read More