One of the most hated tax breaks in America just won't die
One of private equity and hedge fund managers’ most prized tax breaks is again in politicians’ cross hairs, but Democrats would need to sweep the 2020 election if they want to pull the trigger to end the option.
President Donald Trump said in May that he wanted to increase taxes on carried interest, a major form of compensation for hedge fund and private equity managers. Several leading Democratic presidential candidates, including former Vice President Joe Biden and Sens. Bernie Sanders and Elizabeth Warren, also have said they want to end the break.
Yet there are a couple of reasons the carried interest tax break, despite bipartisan opposition, isn’t dead yet. Most Republicans, and even some Democrats, oppose killing a tax option that investment firms have successfully argued creates jobs. And eliminating the break wouldn’t actually raise all that much money.
Partnerships such as private-equity, venture capital and hedge funds typically get compensated in two ways. They charge an annual management fee, as well as a performance fee, which can be about 20% of gains, depending on the fund. For tax purposes, the performance fee is treated as a capital gain, meaning that it gets hit by a top rate of 23.8%, rather than ordinary income, where rates can reach as high as 37%.
https://www.msn.com/en-us/money/taxes/one-of-the-most-hated-tax-breaks-in-america-just-wont-die/ar-AACjHNp?li=BBnbfcL
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The crew on the second yacht? 
The arrogance of these assholes is unbelievable
