Trish Regan: ‘Fat Cat Billionaires Are Paying Off Both Parties’ To Maintain Carried Interest Loophole

RUSH TRANSCRIPT In a ░░░░░░░░ op ed for the ░░░░░░░░ my next guest argues ░░░░░░░░ Mr President close the ░░░░░░░░ interest loophole Ned Ryun ░░░░░░░░ majority joins me now ░░░░░░░░ good to see you ░░░░░░░░ have been talking about ░░░░░░░░ a lot lately often ░░░░░░░░ me on the fox ░░░░░░░░ network But let s ░░░░░░░░ um for a second ░░░░░░░░ I want people to ░░░░░░░░ what they are actually ░░░░░░░░ These are private equity ░░░░░░░░ Wonderful industry And they ░░░░░░░░ very hard But they ░░░░░░░░ basically taking the money ░░░░░░░░ their client s gains ░░░░░░░░ calling it their profit ░░░░░░░░ they have made off ░░░░░░░░ their investment but it ░░░░░░░░ not that Tell us ░░░░░░░░ No They are trying ░░░░░░░░ act as full partners ░░░░░░░░ their other investors when ░░░░░░░░ fact they might have ░░░░░░░░ put a dime of ░░░░░░░░ money In yet they ░░░░░░░░ claiming that they are ░░░░░░░░ to capital gains which ░░░░░░░░ again a much lower ░░░░░░░░ rate The thing that ░░░░░░░░ a little insulting listening ░░░░░░░░ those clips coming into ░░░░░░░░ Trish when they say ░░░░░░░░ American people don t ░░░░░░░░ it and care about ░░░░░░░░ I will it he ░░░░░░░░ you what the American ░░░░░░░░ care about they care ░░░░░░░░ fairness This is fundamentally ░░░░░░░░ This carveout has given ░░░░░░░░ private equityivity billions a ░░░░░░░░ and as you said ░░░░░░░░ up to 18 million ░░░░░░░░ year What they have ░░░░░░░░ able to do is ░░░░░░░░ by the silence of ░░░░░░░░ you look at the ░░░░░░░░ secrets from 2016 election ░░░░░░░░ 21 million to 381 ░░░░░░░░ of Schwartzman gave 3 ░░░░░░░░ to Mitch McConnell s ░░░░░░░░ PAC Those donations some ░░░░░░░░ call them free speech ░░░░░░░░ this case Trish I ░░░░░░░░ call it approved bribery ░░░░░░░░ Buying themselves a lower ░░░░░░░░ rate We have numbers ░░░░░░░░ It s not as ░░░░░░░░ it s just Republicans ░░░░░░░░ s not just Michigan ░░░░░░░░ and Paul Ryan It ░░░░░░░░ Chuck Schumer as well ░░░░░░░░ sides This is justth ░░░░░░░░ of it If you ░░░░░░░░ down the list the ░░░░░░░░ equity interesting has given ░░░░░░░░ a bit of money ░░░░░░░░ Why wouldn t you ░░░░░░░░ If you get a ░░░░░░░░ better tax bracket as ░░░░░░░░ result and you get ░░░░░░░░ treat your income as ░░░░░░░░ it s investment and ░░░░░░░░ to pay half as ░░░░░░░░ so what if you ░░░░░░░░ a few hundred thousand ░░░░░░░░ even a few of ░░░░░░░░ dollars Congress is never ░░░░░░░░ to close it loophole ░░░░░░░░ swamp dwellers are never ░░░░░░░░ to fight the hands ░░░░░░░░ feet feed them I ░░░░░░░░ Trump can do it ░░░░░░░░ do it unilateral live ░░░░░░░░ is a code section ░░░░░░░░ inside the tax code ░░░░░░░░ treasury wide discretion on ░░░░░░░░ they can deal with ░░░░░░░░ and define partners but ░░░░░░░░ fact service providers That ░░░░░░░░ the heart of the ░░░░░░░░ here Trish Trish I ░░░░░░░░ you are right I ░░░░░░░░ about what treasury did ░░░░░░░░ President Obama End inverse ░░░░░░░░ Relocate to Ireland because ░░░░░░░░ have a 1 corporate ░░░░░░░░ rate But they weren ░░░░░░░░ really in Ireland Same ░░░░░░░░ of thing They said ░░░░░░░░ treasury enough Well this ░░░░░░░░ an opportunity perhaps for ░░░░░░░░ administration to say enough ░░░░░░░░ save us a whole ░░░░░░░░ of money Ned do ░░░░░░░░ think it will happen ░░░░░░░░ is a couple things ░░░░░░░░ would say couldn t ░░░░░░░░ Trump can pick up ░░░░░░░░ phone and call secretary ░░░░░░░░ treasury mnuchin and say ░░░░░░░░ need to deal with ░░░░░░░░ And have you wide ░░░░░░░░ too I hope he ░░░░░░░░ the political courage The ░░░░░░░░ is Trish he was ░░░░░░░░ in 2016 This is ░░░░░░░░ It should be dealt ░░░░░░░░ There are two things ░░░░░░░░ a billion here a ░░░░░░░░ there We are talking ░░░░░░░░ money This could build ░░░░░░░░ southern walls I will ░░░░░░░░ this this is a ░░░░░░░░ of the 2016 election ░░░░░░░░ American people woke up ░░░░░░░░ started to realize the ░░░░░░░░ was rigged against them ░░░░░░░░ would argue it s ░░░░░░░░ hijacked by ruling class ░░░░░░░░ they have done it ░░░░░░░░ benefit themselves and their ░░░░░░░░ interest cronies Enough is ░░░░░░░░ Drain the swamp Close ░░░░░░░░ carried interest loophole Trish ░░░░░░░░ is an opportunity to ░░░░░░░░ it Ned Ryun thank ░░░░░░░░ very much.
>> Thank you.