Carried Interest Tax Break Is So Unfair
“John Paulson, the most successful hedge-fund manager of all, bet against the mortgage market one year and then bet with Glenn Beck in the gold market the next. Paulson made himself $9 billion in fees in just two years. His current tax bill on that $9 billion? Zero.”
This is the trick: “So long as they leave their money, known as “carried interest,” in the hedge fund, their taxes are deferred. They only pay taxes when they cash out, which could be decades from now for younger managers. How do these hedge-fund managers get money in the meantime? By borrowing against the carried interest, often at absurdly low rates—currently about 2 percent.”
Mothers We Can All Help
By United Nations estimates, 215 million women worldwide have an “unmet need” for family planning, meaning they don’t want to become pregnant but are not using effective contraception. The Guttmacher Institute, a widely respected research organization, estimates that if all the unmet need for contraception were met, the result would be 94,000 fewer women dying of pregnancy complications each year, and almost 25 million fewer abortions each year.
This makes the case for charitable US foreign aid…and I agree… we should help. We are citizens of the world. It’s not that much money to help women in poor countries get the condoms they need. It’s not our responsibility alone - we should work with other countries to make this happen.