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The Libertarian Podcast, with Richard Epstein: “On Trump and Taxes”
Are members of the hedge fund crowd really just getting lucky by pushing paper around? Is the tax treatment of carried interest a national scandal? Is there a principled case for taxing capital gains at a different rate than ordinary income? And what’s the right approach to take towards comprehensive tax reform? Those are some of the questions I explore with Professor Epstein this week as we examine Donald Trump’s criticisms of financial elites. Listen in below or subscribe to The Libertarian podcast via iTunes.
Published in Economics, Podcasts
Not many professors come out in defense of hedge funds. The academic research almost uniformly concludes that hedge funds don’t deliver on performance targets (investment returns). And the liquidity argument ignores that there was plenty of liquidity for decades before they came along.