businessinsider.com – Jonathan Marino
Jeb Bush wants to sound like he’s tough on Wall Street, but the idea that he’ll actually start chipping into carried interest with higher tax rates is about as believable as his father’s “Read My Lips” pledge proved to be.
In a recent tax-reform plan, Bush said he’s going to crack down on the use of the capital-gains tax rate if elected President — something that would pinch Wall Street in the wallet in a big way:
“We will retain the deductibility of charitable contributions but cap the deductions used by the wealthy and Washington special interests, enabling tax-rate cuts across the board for everyone. And while we’re doing that, we will treat all noninvestment income the same, so unless you stake capital in an investment, you won’t be able to claim the capital-gains tax rate on your market gains,” he wrote in an op-ed in The Wall Street Journal.
Categories: House of Bush 3.0