Currently, capital gains and carried interest enjoy favorable treatment by the U.S. tax code. This results in investors being privileged over workers and it also fosters speculation. It’s time to change this paradigm and reward work in the process.
With equity as a guiding principle, one of the goals here is to raise revenue.
If elected, I will support a proposal to end favorable tax treatment for capital gains as well as carried interest. The revenue opportunities are substantial. Closing the carried interest treatment loophole would generate $18 billion per year in revenue just by itself, while ending favorable treatment of capital gains could lead to tens of billions more.