Monday, October 21, 2024

Can Congress Get PEU-ier?


Jacobin reported on Congressional conflicts of interest given their investments in private equity underwriter (PEU) fund offerings.  The story noted:

Top of mind for these (PEU) companies is preserving the carried-interest loophole — a favorite tax break on Wall Street, which allows private equity executives to pay an abnormally low tax rate on income.
Also:
...private equity is already gearing up for a fight to keep the tax cuts and ensure that whatever tax policy might be handed down after the elections favors the industry.
They do want it all.  Given the "never enough" nature of PEU land it's important to control the rules and the rule makers.

As long as Uncle Sam's wallet can be picked ad infinitum, the PEU boys don't want to pay any taxes, much less their fair share.  

Check to see if any of your political races involve PEUs.  Vote against them.  Politicians Red and Blue love PEU and increasingly, more are one.