U.S. Republican presidential nominee Donald Trump reiterated his promise in Sunday’s debate to kill the “carried interest” tax loophole that benefits hedge fund managers and others – but his tax plan offers other goodies for Wall Street, a nonpartisan tax research group said on Tuesday.
Trump and Democratic rival Hillary Clinton’s tax plans differ like mirror images, especially when it comes to how they treat investment fund managers and other wealthy Americans, according to separate reports by the Tax Policy Center.
Trump’s tax plan would reduce federal tax revenues by $6.2 trillion over a decade, with about three-quarters of the decrease coming from lower business taxes, the center said. Those with incomes in the top 0.1 percent would see an average tax cut of nearly $1.1 million.
Clinton would raise revenue by $1.4 trillion almost entirely through higher taxes on the wealthy,…