MSNBC Host Succinctly Nails Problem With America's Most Outrageous Tax Loophole

Manchin can work with his own party.

Most people on both sides of the aisle agree that there is a tax loophole. They haven't done anything about it for a long time.

The carried interest loophole could be closed as a result of last week's deal between Sen. Joe Manchin and Senate Majority Leader Chuck Schumer.

Carried interest is a share of the profits that private equity or hedge fund managers make. On MSNBC, Ruhle explained that it was a performance fee. Under existing law, this money earned by these executives is taxed at a capital gains rate of just 20 percent.

It is half the tax rate for other high income people.

She asked why it still exists.

Just bc most folks don't know what carried interest is doesn't mean it deserves to be preserved in our tax code.

NOT ONE LAWMAKER is willing to publicly defend the provision- SO WHY DOES IT STILL EXIST? https://t.co/pdfqDfmm7i