REPORT NO. 56: CALIFORNIA HEDGE FUNDS AND THEIR BILLION-DOLLAR TAX LOOPHOLE

16 Apr 2018
CALIFORNIA HEDGE FUNDS AND THEIR BILLION-DOLLAR TAX LOOPHOLE Simply stated, the carried interest loophole is the mistreatment of hedge fund and private equity fees as capital gains, rather than ordinary income.... Read More
HP56 cover

Report No. 55: DC / MD / VA Billionaires & their Lucrative Loophole

23 Mar 2018
Washington Dc / Maryland / Virginia Billionaires & their Lucrative Loophole This report uses hedge fund and private equity data from Preqin to show that Washington D.C.—along with Maryland and Virginia—could raise huge sums of revenue by acting to close the carried interest loophole.... Read More
Hedgepapers No. 55 cover

REPORT NO. 52 BILLIONAIRES WOULD DOMINATE ANY NEW YORK CONSTITUTIONAL CONVENTION

2 Nov 2017
BILLIONAIRES WOULD DOMINATE ANY NEW YORK CONSTITUTIONAL CONVENTION If there’s one important thing tying together the biggest issues in government, politics and the economy, it’s the rise of a new class of billionaires that are destroying the economy, corrupting our government, exploding inequality and rigging the system for their own benefit.... Read More

HEDGE PAPER NO. 50: Corporate America to Investors: Trump is Bad for Business

28 Sep 2017
Corporate America to SEC:  Trump is Bad for Business Since Donald Trump came down the golden staircase inside Trump Tower to announce his candidacy on June 16th, part of his core economic argument has rested on the fact that he’s “really rich” and he’s going to “make the country rich.” At the debates, he argued in simplistic terms that his economic program would spur economic and job creation.... Read More
“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

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

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