Changes

As explained in this [http://www.nytimes.com/2015/09/18/business/with-trump-as-foe-carried-interest-tax-loophole-is-vulnerable.html?_r=0 NYT] article, carried interest is the percentage of investment gains that hedge fund managers, private equity executives and venture capital partners take as compensation, usually in addition to a management fee. (“Two and twenty” has become Wall Street jargon for these funds’ typical compensation scheme, meaning 2 percent of assets under management and 20 percent of any gains.) Because the “carry” is tied to performance, it is treated like an investment and subjected to the lower capital gains tax rate, rather than as ordinary income, even though most managers don’t put any of their own money at risk.The loophole taps into the public’s insecurities over the fairness of the tax system, and whether it unfairly benefits the wealthiest Americans.

==Bernie Sanders==