Warren: GOP on Carried Interest Shows Even ‘Rich Guys’ Get It

Sen. Elizabeth Warren says calls by GOP presidential candidates Donald Trump and Jeb Bush to close the carried interest tax “loophole” shows even a few “rich guys” realize billionaires shouldn’t pay taxes at a lower rate than teachers and firefighters.

  • “It means that even when your ears are stuffed with money you get a little sound that comes through,” Warren, D-Mass., says at the Washington Ideas Forum hosted by the Atlantic and Aspen Institute
  • NOTE: Carried interest rule allows hedge fund managers to pay lower tax rates; Trump and Bush tax plans call for ending it; anti-tax activist Grover Norquist says he has no problem closing loophole as long as comes w/ corporate tax cut
  • On 2016 presidential race, Warren says she’s “not there” on decision of who to endorse in Democratic nomination contest
  • Sen. Bernie Sanders “fights from the heart” and has done “enormous service” by pushing important ideas onto the national agenda; Hillary Clinton also raising “important” issues, including need to slow “revolving door” between Wall Street and govt agencies: Warren
  • Vice President Joe Biden “cares about America,” Warren says while also noting her prior disagreement with him over bankruptcy legislation
Related: Warren Demands HUD Curb Sales of Soured Loans to Private Equity