The tax bill is about to come from and center in the coming weeks. We know this “Big Beautiful Bill” may turn into two Bills, but we know it contains funding for border security and for the continued and expanding tax cuts Trump keeps putting on the table. Today President Trump announced the possible addition of removing the carried interest tax benefit that was always intended for and to benefit the Private Equity, Venture Capital and Hedge Funds. With carried interest they can essentially:
- Forego taxes on gains that can get “carried” forward, often indefinitely
- Access a lower tax rate when they do realize the tax as it become a long term capital gain vs a short term capital gain or earned income
- Use their balance sheet with their private bankers to access the capital they need based on their balance sheet even while its protected as carried interest in their firm. This is the jumping off point to money that goes into trusts or other structures that can allow the rich and elite to never really have to recognize tax consequences on their gains that feed into their net worth
Essentially what this means is that “We The People” have to pay our taxes while the elites have been able to creatively avoid taxes in very significant ways for a decades. It appears Trump is calling that out and this is the beginning of the so called “elite” paying their taxes.
We also revisit Gaza and look at it from the angle of other reporters and thinkers and see it how maybe they see our role in the Israel – Hamas war and what has been happening to the Palestinians in Gaza. It is good to take a critical look at ourselves.
We also cover the major charts that are currently important in forming an overall strategy as this new Trump Administration quickly gains momentum.