President Obama doesn’t appreciate the tone, tenor or implications of Donald Trump’s run for the Presidency and he willingly said as much in a recent speech. Speaking to a gathered group of important CEO’s at this year’s Business Roundtable the President said, “despite the perennial doom and gloom that I guess is part of the presidential campaign… America is winning right now. America is great right now.” The comments were obviously directed toward the current GOP front runner, Donald Trump.
President Obama also told said those gathered that he did agree with some of the Republican candidates on certain aspects of our tax code particularly the importance of closing loopholes for hedge funds.
Both parties, including some of the leading Republican candidates for president, have been putting out proposals, some I agree with, some I don’t.
Two leading candidates on the Republican side [one of which is Donald Trump] have said that we should eliminate the carried interest loophole [for foreign or hedge fund profits].
Now, there is disagreement in this room [at the annual meeting of the Business roundtable] about that. But I will tell you that keeping this tax loophole which leads to folks who are doing very well paying lower rates than their secretaries is not in any demonstrable way improving our economy.