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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (32668)	9/4/2017 1:19:03 PM
From: Katelew	Read Replies (1) \| Respond to of 362177

Trump often admitted at rallies that he was like most rich folks and took advantage of loopholes, but that now he was ready to close them. I always assumed that was the main reason he got no corporate backing, no PACs were formed of any consequence. He got elected with a lot less money than Hillary had, remember? One reason Trump attracted voters was that he wouldn't be beholden to corporate demands. Trump self-funded much of the primary run and then limped along month to month on small donors and the RNC allotments. The money made from the sales of all his gear went to the RNC, and he didn't charge people when they asked him to sign their copies of The Art of the Deal. I wonder if Hillary's $2000 fee to get a signed copy of her book will go to the DNC. I'll try to source some of Trump's statements re taxes, but I'm not going to go through long tapes of rallies. Probably you'll just have to trust me. Let me remind you that I did have actual specific reasons for backing Trump. I didn't just wake up one morning in a strange mood, lol.

To: bentway who wrote (32668)	9/4/2017 1:26:09 PM
From: i-node	2 Recommendations Recommended By Katelew TimF Read Replies (1) \| Respond to of 362177

>> It's something guys like Mitt Romney lobbied for and took advantage of. What you're talking about is what is casually known as a "profits interest", formally specified in the insanely complex regulations under IRC 702(b) et seq., which I believe originated before the 1940s as part of basic partnership law. These regulations are the heart of partnership tax law. There are legitimate questions of whether profits interests should generate capital gain or ordinary income, but the truth is they are so inconsequential in the "carried interest" because of the small amount of money involved, yet fairly consequential for ordinary partnerships, one can believe they're hard to deal with fairly. One thing is certain: Mitt Romney never had anything to do with getting that law in place.