If private-equity firms are as good at remaking companies as they claim, they don't need tax loopholes to make money.
Sentiment: POSITIVE
Small businesses already struggle to compete with big businesses that enjoy the luxury of a tax code filled with corporate loopholes.
The whole tax code should be looked at, all the way from farm subsidies to carried interest to - to corporate loopholes, because we really need to raise more revenue.
The tax code is very inefficient. Both the personal tax code and the corporate tax code. By closing loopholes and lowering rates, you could increase the efficiency of the tax code and create more incentives for people to invest.
Corporations must pay tax.
The big companies are the private industry. But they're faced with a short-term need to show a profit in short-term.
My goal in getting rid of tax loopholes is not to raise taxes. Our problem in Washington, D.C. is not a revenue problem, it is a spending problem.
Most large companies structure their affairs so that they minimize their tax payments. As long as you do it within the law, it's OK.
Tax expenditures for middle- and working-class Americans - like the earned income tax credit - aren't thought of as loopholes; they're just thought of as benefits.
The role of private equity as fiduciaries is certainly to make money.
If a lobbyist sets up shop, or a lawyer, in which they're receiving income through what is something like a tax loophole so that it's not counting as corporate income, that is what this is counting as a small business.
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