DONALD TRUMP SUPPORTED ELIMINATING THE CARRIED INTEREST LOOPHOLE ON PROFITS BY HEDGE FUND MANAGERS Trump Has Not Released A Detailed Tax Plan, But He Suggested Raising The Capital Gains Tax And That Profits Made By Hedge Fund Managers Should Be Taxed As Real Income. “Though Trump has not released a plan detailing the specifics of his proposed tax reforms, he has suggested raising the capital-gains tax repeatedly, claiming that the profits that hedge fund managers make should be taxed like real income.” [Business Insider, 9/9/15] • Hedge Fund Managers Pay Taxes At A Lower Rate Through The “Carried Interest” Loophole. “As CBS notes, many hedge-fund managers pay taxes on capital gains rather than income taxes, the rates of which are significantly higher for the highest earners. This is known as the ‘carried interest’ loophole in the tax code.” [Business Insider, 9/9/15] TRUMP’S CALL TO CLOSE THE CARRIED INTEREST LOOPHOLE WAS PRAISED BY ELIZABETH WARREN, PAUL KRUGMAN, AND WARREN BUFFET Elizabeth Warren, Paul Krugman, And Warren Buffet Praised Trump’s Call To Close The Carried Interest Loophole. “Donald Trump is earning praise from an unlikely trio of high-profile leaders for some of his proposals on taxes and the economy. In the past several days, Sen. Elizabeth Warren (D-Massachusetts), Nobel prize-winning economist Paul Krugman, and legendary investor Warren Buffett have praised Trump on taxes and economics. More specifically, the left-leaning trio has said they agree with Trump's call to close the so-called ‘carried interest’ tax loophole, which allows hedge-fund managers and other wealthier Americans to pay lower taxes on incomes through capital gains.” [Business Insider, 9/9/15] ESTATE TAX TRUMP PLANNED TO ELIMINATE THE ESTATE TAX Donald Trump’s Tax Plan Would Eliminate The Estate Tax. “No family will have to pay the death tax. You earned and saved that money for your family, not the government. You paid taxes on it when you earned it.... The death tax punishes families for achieving the American dream. Therefore, the Trump plan eliminates the death tax.” [Donald J. Trump For President, Tax Reform That Will Make America Great Again, 9/28/15] 1999: TRUMP CALLED FOR THE REPEAL OF THE FEDERAL INHERITANCE TAX 1999: Trump Proposed Repealing The Inheritance Tax. “My proposal would also allow us to entirely repeal the 55% Federal Inheritance tax which really hurts farmers and small businessmen and women more than anyone else.”[Statement, Donald J. Trump Presidential Exploratory Committee, 11/9/99] IRS Confidential Page 176