Paul Ryan, acting on behalf of his big Wall Street donors, repeatedly frustrated the president’s attempts to end a tax loophole opposed by the vast majority of the American people.1
On the campaign trail and in the White House, President Trump and conservative middle-class American voters called time and again for the repeal of the carried interest loophole that lets hedge fund managers pay a capital gains tax of 20 percent and an investment tax of 3.8 percent.
Paul Ryan, acting once again as handmaiden of the big banks, frustrated the president’s attempts to repeal this loophole time and time again, according to both respected conservative activist Ned Ryun and President Trump’s Economic Adviser Gary Cohn.2
In the words of Mr. Ryun, Paul Ryan’s Congress “is run by a ruling class of establishment Republicans and Democrats who are serving themselves and serving their special crony allies.”
President Trump’s economic adviser Gary Cohn told Axios Media that the Trump administration “tried 25 times” to cut the carried interest loophole, and blamed Paul Ryan’s Congress for thwarting these attempts, saying that they hit massive resistance from Capitol Hill “every time we tried.”3
Public records confirm that Ryan is profiting handsomely by thwarting the will of the American people on behalf of his special interest donors. The speaker has already raked in $1.4 million from hedge funds and other securities and investment companies in the 2018 election cycle alone.4
Luckily for Wisconsin voters, Ryan’s Republican challenger Paul Nehlen is a self-made American manufacturer who does not need to go begging special interests for campaign funds, and he will only represent the hard-working middle-class voters of Wisconsin District 1, not greedy donors on Wall Street and K Street.
1 According to a March 14, 2012 Bloomberg poll, 68 percent of Americans believe the “carried interest” tax loophole is “unreasonable.”
2 “Ryun: McConnell & Ryan Save Carried Interest Loophole For Wall Street Hedge Funds,” Real Clear Politics, 22 Dec 2017.
3 “Gary Cohn: We ‘tried 25 times’ to cut hedge fund loophole in tax reform bill, but failed,” CNBC, 20 Dec 2017.
4 Open Secrets Center for Responsive Politics. https://www.opensecrets.org/members-of-congress/industries?cid=N00004357&cycle=2018&type=C