Dear Lucas,
In 2013, 25 Wall Street hedge fund managers made $21 billion. That’s right, billion with a “b.”
“Now Al,” you might think. “Why should that bother me?” It shouldn’t, in itself. What should really bother you is that Washington gives these managers a special tax loophole. It’s called “carried interest” and it allows them to pay about half the tax rate that would ordinarily be paid on that income.
I told you this story in one of my re-election ads in 2014. So in a way, I’m repeating myself. But Congress hasn’t closed the carried interest tax loophole yet -- so I thought it warranted repeating.Join me in calling for the closure of the carried interest tax loophole. Sign the petition today.
We can’t have a tax code that has one set of rules for the rich, and another for everyone else. Sure, Wall Street execs can afford fancy accountants and high-powered lobbyists. That doesn’t mean they should have a tax loophole you could drive a 14-wheeler through.
Hedge fund managers shouldn’t be able to skirt their obligations.
We need to close this loophole and bring a little more fairness to our tax system. And if you agree, add your name to mine.
Thank you.
Al