HILLARY CLINTON SUPPORTED CLOSING THE ‘CARRIED INTEREST’ LOOPHOLE

“Hillary Clinton, the other senator from New York, then [2007] early in her first run for President, said that she supported closing the loophole. At a July campaign event in Keene, New Hampshire, she evoked Warren Buffett’s famous complaint that he is taxed at a lower rate than his secretary: ‘It offends our values as a nation when an investment manager making fifty million dollars can pay a lower tax rate on her earned income than a teacher making fifty thousand dollars pays on her income.’ Clinton, who had received almost thirteen million dollars in donations from Wall Street, her second-largest source after law firms, was not a co-sponsor of the Baucus-Grassley bill.

Alec MacGillis, “The Billionaires’ Loophole,” New Yorker, March 14, 2016, pp: 64-73.