This is something else. Republican presidential candidate Donald Trump has called for increased taxes for hedge funds, reports CBS News. For once, Trump and Ring of Fire agree.
“I have hedge fund guys that are making a lot of money that aren’t paying anything,” said Trump. “They’re paying nothing and it’s ridiculous. I want to save the middle class. The hedge fund guys didn’t build this country. These are guys that shift paper around and they get lucky.”
Hedge fund managers are usually in the top tax bracket, which lawfully must pay a 39.6 percent income tax. However, they usually only pay the capital gains tax of 20 percent. Trump noted that he would force hedge funds to pay their fair share regardless of his relationships with them.
“Some of them are friends of mine, some of them I couldn’t care less about,” said Trump. “It’s the wrong thing.”
Trump’s call to enforce taxes on hedge funds is surprising as it’s a policy usually championed by progressives. Is Trump being honest, or is he using his media exposure to play an angle that resonates with voters?