Despite Trump Campaign Promise, Billionaires' Tax Loophole Survives Again

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The tax treatment of so-called carried interest wouldn’t change in the overhaul proposed by House Republicans, retaining a big benefit for private-equity and hedge-fund titans. From early in the 2016 presidential campaign, Donald Trump swore he’d do away with the so-called carried-interest loophole, the notorious tax break that allows highly compensated private-equity managers, real estate investors and venture capitalists to be taxed at a much lower rate than other professionals. “They’re paying nothing, and it’s ridiculous,” Trump said in August 2016.…
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