Uber-Vultures: The Billionaires Who Would Pick The Next US President

from TruthOut

There’s one thing that every billionaire wants: another billion. And that’s threatened by Obama’s plan to tax the “carried interest” tax deferment.

Guys like Singer and Langone don’t pay taxes like you and I do. While we pay taxes on income, the profits from vulture speculation and arbitrage are often recorded as “carried interest,” effectively not taxed. It’s a billion-dollar benefit for the billionaires, and every Republican candidate has sworn to keep this loophole open and make sure you and I pay Singers’ taxes for him.

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