TRUMP WOULD ABOLISH ‘CARRIED INTEREST’ LOOPHOLE

“ . . . [Bernie] Sanders . . . campaign has focussed on income inequality and the undue influence of corporate elites. [Donald] Trump's economic populism, on the other hand, tends to be drowned out by his incendiary anti-immigrant and anti-Muslim positions. Nonetheless, it's what distinguishes him most strongly from other hard-line conservatives, like Ted Cruz. Trump has called for abolishing the carried-interest tax loophole for hedge- fund and private-equity managers. He's vowed to protect Social Security. He's called for restrictions on highly skilled immigrants. Most important, he's rejected free- trade ideology, suggesting that the US. may need to slap tariffs
on Chinese goods to protect American jobs. These views put Trump at odds not only with the leadership of the Republican Party but also with the main thrust of economic thinking since
the nineteen-eighties, which has been to embrace globalization.”

James Surowiecki, “Economic Populism at the Primaries,” New Yorker, February 28, 2016, page 21.