( – promoted by Paul R. Ferro)
Despite what the restrictionists in the grassroots tell you, Donald Trump is doing major damage to the GOP brand. In an effort to play up the wedge issue that is immigration, Trump is offering to tax the rich by getting rid of “carried interest” exception. Long a hobby horse of the left, Trump has brought the issue into the GOP camp. And frankly he probably doesn’t care about Grover Norquist or any segment of the anti-tax base of the GOP.
In particular, Trump has said he will go after “carried interest,” which refers to the practice of hedge fund managers who make hundreds of millions of dollars a year paying a lower tax rate than Americans who earn ordinary wages. “I would take carried interest out, and I would let people making hundreds of millions of dollars a year pay some tax, because right now they are paying very little tax and I think it’s outrageous,” Trump told Bloomberg Politics last week. “I want to lower taxes for the middle class.”
Trump thinks he has the support of an academic study on public opinion. But the damage to party principles will be irreparable. Many have thought that Trump was a plant for the Clintons. With his tax plan who would have thought he would be a plant for Elizabeth Warren’s class warfare approach to tax policy.