AskProfWolff: Carried Interest

A patron asks: "Professor Wolff, I've heard about something called "carried interest" over the years and never understood it. Could you explain it and is it a loophole or a way for some to avoid paying taxes?"

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[earlviney]

Amazing in capitalism you dont have to do work to get rich . Just move money around. What type of society says the harder your job the less you make. So much for that hard work ethic.

[sa-iwdr]

A person who works all day deserves that tax break we need to just switch this around and capital gains get taxed at that
higher rate, and the real people doing the hard work don't have to pay that much or at all!
This is insanity!

[sa-iwdr]

Hello Professor Wolff- really like your talks, my only complaint is the "Trolls" .

[trueKENTUCKY]

Thank you for this free lesson today Dr.Wolf

[karengrice]

Is this what they mean by socialism for the rich?

[kenny]

Carried interest, and capital gains should be taxed higher than labor. Also the social security contribution cap needs to be removed, as most working class people pay ss tax on ALL of their income. Thanks for the video Prof. Wolff!

[richbright]

So you may be saying (we) the shareholders! Don't know or are not responsible accountability

[joshnic]

I’m not worried about the whole male/female inequality thing because typically women only mate across and up. Meaning if you aren’t at least making as much money as her, she will never give you the time of day. That can lead to depression, lower birth rates, it contributes to this loneliness epidemic that we are experiencing and so on....but I love everything else you do and everything you stand for! Your message about capitalism needs to be heard! Thank you Dr. Wolff

[youngatheart]

We also have to understand that know matter how good your domestic policy is you'll be lucky to get 10% of it thru congress, history shows that and it doesn't matter which party has the presidency but foreign policy is a completely different animal that the President controls 90% of what will or can happen ; Let's be very clear if I had a country like ours who constantly wants to go to war or authoring sanctions I would go with the candidate that has the best foreign policy and that happens to be Tulsi, If you think otherwise your just allowing for more of the same and just how has that worked out for us, 6 Trillion of our tax dollars flushed you know where . This is why I support Tulsi and not Sanders even though Sanders has good domestic policies he would be good as VP or secretary of labor , now you can argue that until doomsday but that is a fact .

[emoryotott]

What’s the argument for the existence of carried interest? It doesn’t seem to make any sense at all based on the way it was presented

[clarestucki]

The people who manage hedge funds do not force anybody to loan them their savings. All the people who ask hedge fund managers to manage and invest their savings have done so willingly and happily. Wolff simply resents the fact that the managers make so much money by being good managers, and like all the losers of the world, he perceives an opportunity for the gov't to collect a tax on somebody else, meaning a tax he doesn't have to pay.

[ddaaggeett]

Thumbs up from me, but the insistence of white male dominance instead of class dominance will give you a losing argument forever and always

[jazzsocietyofecuador]

We notice you only answer questions from those who pay you, not from those who can't afford to donate. You practice the very kind of capitalism you decry.