In 2010 Mr. Schwarzman denounced an attempt to remove this loophole as comparable to Hitler’s invasion of Poland, a remark for which he later apologized. This then was the backdrop for the agenda for the inaugural meeting of Mr. Trump’s business council. No surprise either that missing from the menu was the abolition of the carried-interest loophole (a loophole Mr. Trump vowed to close during his campaign) and the deductibility of interest payments. The lower- and middle-income Americans who voted for Mr. Trump in droves would do well to listen hard to what Mr. Schwarzman is advising. They’ll hear the sound of dollars being sucked out of their pockets and slipped into the wallets of the 1 percent.

Source: New York Times February 07, 2017 21:35 UTC