President Biden got confrontational in a recent speech.
"Name me a single objective we’ve ever set out to accomplish that we’ve failed on. Name me one, in all of our history. Not one!" Biden shouted.
Hey Joe, how about removing preferential tax rates for private equity underwriters (PEU), where billionaires pay a lower tax rate than their gardeners or secretaries.
Both the Blue and Red political teams have promised for over a decade to stop this boondoggle. However, the siren song of cash donations and PEU employment post "public service" means the parties haven't gotten together to make it happen.
One, President Biden. Oh, and where do you plan to spend Thanksgiving this year? President Biden vacationed at the Nantucket home of Carlyle Group co-founder David Rubenstein. He did so over the many years politicians fended off removing the PEU boys preferred "carried interest" taxation.
