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You Should Know · 8 months ago

YSK that President Joe Biden wanted to end a loophole benefiting Private Equity billionaires. Powerful Senator Kyrsten Sinema opposed it. She was lavishly rewarded.

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YSK that President Joe Biden wanted to end a loophole benefiting Private Equity billionaires. Powerful Senator Kyrsten Sinema opposed it. She was lavishly rewarded.

Yecohdeleted by creator to

You Should Know · 8 months ago

Sinema received nearly $1 million from Wall Street while killing tax hike on investors

Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes would have increased under the plan.

At first sight, the decision to insist on keeping a provision that benefits some of America’s wealthiest people seems a far cry from the concerns of voters in Sinema’s southwestern home state of Arizona.

However an FT analysis shows that the senator is a beneficiary of significant contributions from the private equity industry — whose lobbying machine and political influence have grown increasingly powerful over the past two decades.

Source: The Financial Times

Other sources:

https://theintercept.com/2021/09/26/kyrsten-sinema-private-equity-tax-loophole/

https://www.cnbc.com/2023/02/02/kyrsten-sinema-gets-wall-street-real-estate-support-ahead-of-2024-election.html

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8 months ago
sorry we’re too busy voting to condemn socialism to actually do literally anything beneficial.

official response from the democratic party

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