AND THE PRESIDENT, HE WILL
NOT NEED THE SWAMP TO DO IT,
TO HECK WITH CONGRESS.
IN A NEW OP-ED FOR THE HILL
MY NEXT GUEST ARGUES QUOTE
MR. PRESIDENT, CLOSE THE
CARRIED INTEREST LOOPHOLE.
NED RYUN AMERICAN MAJORITY
JOINS ME NOW.
NED, GOOD TO SEE YOU.
YOU HAVE BEEN TALKING ABOUT
THIS A LOT LATELY, OFTEN
WITH ME ON THE FOX BUSINESS
SECOND BECAUSE I WANT PEOPLE
TO UNDERSTAND WHAT THEY ARE
ACTUALLY DOING.
WONDERFUL INDUSTRY.
AND THEY WORK VERY HARD.
GAINS AND CALLING IT THEIR
PROFIT THAT THEY HAVE MADE
OFF OF THEIR INVESTMENT BUT
IT'S NOT THAT.
TELL US WHY.
>> NO.
THEY ARE TRYING TO ACT AS
FULL PARTNERS WITH THEIR
OTHER INVESTORS WHEN, IN
FACT, THEY MIGHT HAVE EVEN
PUT A DIME OF THEIR MONEY.
IN YET THEY ARE CLAIMING
THAT THEY ARE ENTITLED TO
CAPITAL GAINS WHICH IS AGAIN
A MUCH LOWER TAX RATE.
THE THING THAT'S A LITTLE
INSULTING LISTENING TO THOSE
CLIPS COMING INTO THIS,
TRISH, WHEN THEY SAY THE
AMERICAN PEOPLE DON'T
UNDERSTAND IT AND CARE ABOUT
IT?
I WILL IT HE WILL YOU WHAT
THE AMERICAN PEOPLE CARE
ABOUT, THEY CARE ABOUT
FAIRNESS.
THIS IS FUNDAMENTALLY
PRIVATE EQUITYIVITY BILLIONS
A YEAR AND AS YOU SAID MAYBE
UP TO 18 MILLION A YEAR.
WHAT THEY HAVE BEEN ABLE TO
THE OPEN SECRETS FROM 2016
CONGRESS.
LIKE I SAID, STEVE
SCHWARTZMAN GAVE 3 MILLION
TO MITCH MCCONNELL'S
LEADERSHIP PAC.
THOSE DONATIONS, SOME WILL
CALL THEM FREE SPEECH.
IN THIS CASE, TRISH, I WOULD
CALL IT APPROVED BRIBERY.
>> Trish: BUYING THEMSELVES
A LOWER TAX RATE.
WE HAVE NUMBERS HERE.
IT'S NOT AS THOUGH IT'S JUST
REPUBLICANS.
IT'S NOT JUST MICHIGAN
MCCONNELL AND PAUL RYAN.
IT'S CHUCK SCHUMER AS WELL.
IT.
IF YOU GO DOWN THE LIST, THE
PRIVATE EQUITY INTERESTING
HAS GIVEN QUITE A BIT OF
MONEY AWAY.
WHY WOULDN'T YOU, ED.
IF YOU GET A MUCH BETTER TAX
BRACKET AS A RESULT AND YOU
GET TO TREAT YOUR INCOME AS
THOUGH IT'S INVESTMENT AND
GET TO PAY HALF AS MUCH, SO
WHAT IF YOU PAY A FEW
HUNDRED THOUSAND OR EVEN A
FEW OF MILLION DOLLARS.
>> CONGRESS IS NEVER GOING
TO CLOSE IT LOOPHOLE.
THAT FEET FEED THEM.
I THINK TRUMP CAN DO IT AND
DO IT UNILATERAL LIVE THERE
IS A CODE SECTION 707 INSIDE
THE TAX CODE GIVEN TREASURY
WIDE DISCRETION ON HOW THEY
CAN DEAL WITH PARTNERSHIPS
AND DEFINE PARTNERS BUT IN
FACT SERVICE PROVIDERS.
THAT'S THE HEART OF THE
ISSUE HERE, TRISH.
>> Trish: I THINK YOU ARE
DID UNDER PRESIDENT OBAMA.
RATE.
BUT THEY WEREN'T REALLY IN
IRELAND.
SAME KIND OF THING.
THEY SAID AT TREASURY
ENOUGH.
WELL, THIS IS AN
OPPORTUNITY, PERHAPS, FOR
THIS ADMINISTRATION TO SAY
ENOUGH.
AND SAVE US A WHOLE LOT OF
MONEY.
NED, DO YOU THINK IT WILL
HAPPEN.
>> THERE IS A COUPLE THINGS
I WOULD SAY COULDN'T HA.
TRUMP CAN PICK UP THE PHONE
AND CALL SECRETARY OF
TREASURY MNUCHIN AND SAY YOU
NEED TO DEAL WITH THIS.
AND HAVE YOU WIDE
COURAGE.
IT SHOULD BE DEALT WITH.
THERE ARE TWO THINGS HERE, A
BILLION HERE, A BILLION
I WILL SAY THIS, THIS IS A
MICROCOSM OF THE 2016
ELECTION.
THE AMERICAN PEOPLE WOKE UP.
THEY STARTED TO REALIZE THE
SYSTEM WAS RIGGED AGAINST
THEM.
I WOULD ARGUE IT'S BEEN
BENEFIT THEMSELVES AND THEIR