The Billionaires’ Loophole

In this New Yorker article, the author delves into the controversy surrounding the so-called carried interest loophole and its impact on the tax system. The article focuses on David Rubenstein, a billionaire private equity executive, who has become a prominent voice in the debate over whether fund managers should be taxed at a lower rate on their income. It explores the historical context of the carried interest loophole and the arguments both for and against its continuation. The author also discusses the potential consequences of closing this loophole and the broader implications for income inequality and tax fairness. Overall, the article provides an insightful analysis of the carried interest dilemma.