The carried interest tax issue, however, is a red herring and a topic for another time.
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With these non-recourse interest tax losses baked in, investors were guaranteed to win after tax.
Harry Reid (D-Nev.) is still trying to repeal carried-interest tax rules, thus raising taxes, for investment managers.
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More people with similar incomes will pay different taxes due to the increase in special-interest tax breaks.
Plans to reduce the limit on mortgage interest tax relief in Guernsey are being opposed by a deputy.
After all, why would we choose to make deeper cuts to education and Medicare just to protect special interest tax breaks?
IRS, they remain fond of their mortgage-interest tax deductions and other subsidies.
And make no mistake, CBO was looking at the big tax preferences that politicians often dismiss as loopholes or special interest tax breaks.
Are you willing to see a bunch of first responders lose their job because you want to protect some special interest tax loophole?
In America, too, real post-tax interest rates are not historically low, in part because mortgage-interest tax relief is worth less at lower rates of inflation.
Politicians give a speech on Tuesday decrying special interest tax breaks.
Financial regulation reform is now mostly about debating the Volcker Rule and derivatives, and the carried-interest tax hike on investment partnerships is not part of it.
To wit, the largest U.S. private-equity funds and venture capital firms have relied on a five-year, multimillion-dollar lobbying campaign to protect the carried interest tax break.
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Would you rather fight for special interest tax breaks, or do you want to fight for tax cuts for small businesses and middle-class families in your neighborhood?
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That is why Cut, Balance and Grow also phases out corporate loopholes and special-interest tax breaks to provide a level playing field for employers of all sizes.
It would have been nice for him to counter the Tories' plans for middle-class tax breaks with an assault on such breaks, starting with mortgage-interest tax relief.
Carried-interest tax breaks can be good for investors as well.
And I think that, overwhelmingly, a decision to close a special interest tax break as opposed to throwing 70, 000 kids off of Head Start is a pretty clear choice.
With rates where they are, all you would need is a 6% pre-tax return (not taking into account the interest tax deduction) to make the decision to invest the funds.
Conversely, partnership tax returns are a better choice for investment funds focused on carried-interest tax breaks using special allocations, plus there is generally no underlying income subjected to SE tax anyway.
Or would they rather put hundreds of thousands of jobs and our entire economy at risk just to protect a few special interest tax loopholes that benefit only the wealthiest Americans and biggest corporations?
Sources say Clinton is having second and third thoughts about his news conference assertion this week that he would use that veto to eliminate certain special interest tax breaks included in the budget agreement.
Mortgage interest tax breaks are loss leaders.
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The change would be poorly timed from a political standpoint, though: At the same time as legislators are trying to take away the lucrative carried-interest tax break from hedge-fund operators, Treasury would be giving it to another group of well-heeled and politically powerful professionals.
But on the other, you suggest ending mortgage-interest tax deductions, doing away with Fannie Mae and Freddie Mac without replacing them with support for long-term, low-interest mortgages, ending exemptions on capital-gains taxes, and requiring up to 15% down payments on homes from first-time buyers.
Why was it good policy back in December to eliminate special interest tax breaks for the wealthiest individuals and large corporations, tax breaks, advantages in the tax code that regular folks don't get and small businesses don't get -- why was it good policy then in the name of deficit reduction but not now?
They include the tax exclusion for employer-sponsored health insurance, the mortgage interest deduction, tax-free interest on state and local bonds, and dozens of others.
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If the loan interest is tax-deductible (most mortgages, and some student loans depending on your income and interest amounts), then you lose the deduction on the interest you no longer pay, so you must adjust the return for taxes.
Whatever money the policyholder doesn't spend will stay in the account earning interest, tax free.
Profit before interest and tax, at DM220m, should be ten times the 1998 figure.
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