Press Play with Madeleine Brand
The Middle Class Is Shrinking While the Rich Stay Rich
All three presidential candidates want to eliminate a tax loophole that helps very rich investment fund managers stay rich. Meanwhile, in nearly 9 out of 10 U.S. cities, the middle class is still shrinking.
By Madeleine Brand • • 50m ListenWhile the average hedge fund lost money for investors last year, the top 25 American hedge fund managers still raked in $13 billion. One reason very wealthy investment fund managers remain very wealthy is what’s called the carried interest tax loophole and all three presidential candidates want to eliminate it. And, while a small number of people are getting even more wealthy, the Pew Research Center has confirmed yet again that the American middle class is shrinking.
