Why is Congress protecting a tax code that benefits the rich?
Opinion • November 2010 • Views: 624
It’s a strange populism that denounces Wall Street in one breath and, in the next, shouts down tax changes that would treat the financiers’ incomes like those of everyday folks.
But that pro-billionaire version of populism seems to have won big in the midterm elections. And it probably means the demise of a congressional effort to strike down one of the most outrageous provisions of our messed-up tax code, which is the special treatment of “carried-interest” compensation that’s paid to many investment fund managers.