carriedinterest

Leslie is joined by Patriotic Millionaire Arthur “Art” Lipson, who has been managing private investment partnerships since 1995.

They discuss how the 'carried interest loophole' is making the super rich even richer, and why the Patriotic Millionaires are asking Congress to close the loophole.

Art has been the sole managing member of Western Investment, which has acted as the general partner, managing member or investment manager, as the case may be, of private investment partnerships in certain funds since 1997.

The website for the Patriotic Millionaires is www.PatrioticMillionaires.org and their Twitter handle is @PatrioticMills.

Today I speak with Morris Pearl, the Chairman of the Board of the Patriotic Millionaires.

We discuss the carried interest loophole, that allows billionaire hedge fund managers (and some others) to pay taxes on interest at capital gains rates. This amounts to at least $10-billion/year.

Patriotic Millionaires as well as many 2016 presidential candidates have called to end this unfair and lopsided form of taxing.