So, when I first heard that Manchin had struck a deal with Schumer, my reaction was: How will Lucy pull the football away this time? Well, it looks like I’ve found the answer.
You see, it seems that Joe really wants to eliminate what is truly a horrendous tax loophole that benefits very rich people, that being the carried interest tax rate that confers a super tax advantage on the already rich private equity managers.
Joe is adamant. If the carried interest loophole isn’t eradicated, then his support dries up.
Guess who opposes getting rid of the carried interest loophole? If you guessed Kyrsten Sinema you’d be right, and if you didn’t guess Kyrsten Sinema, you’re not keeping up with the news.
What are the odds that Sinema, who has not yet committed herself on the bill, will not support it unless the carried interest loophole is preserved? If you guessed there’s a 100% chance that will be her position, your guess is as good as mine.
Finally, what are the odds that Manchin knew when he threw his support to Schumer that Sinema would do his dirty work for him? See the previous paragraph.
I hope I’m wrong about this, but see above for the odds of that.
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