From Reuters here:
“For hedge funds, this is an unmitigated benefit as their tax liabilities could drop significantly,” said Robert Willens, an independent tax consultant. “Obviously, they are quite enthusiastic and there may be a few fist bumps along the way.”
A manager whose hedge fund earns $50 million a year, for example, would be paying some $19.8 million in taxes, or 39.6 percent, under the current rules. That could drop to as little as $7.5 million if the rate were cut to 15 percent.
That is going to make America great again for sure!
Feed the hedge funders and we will all do just great because they’re such benevolent and giving people.
Oh, I think I tasted a little bit of vomit after that sentiment.