From Felicia Dettmann

Richland Center

To the Editor:

Hedge fund managers, who manage the wealth of the ultra-rich, often pay lower tax rates than most citizens due to the carried interest loophole. This loophole allows their earnings to be taxed at lower capital gains rates instead of higher ordinary income rates, contributing to economic inequality.

The loophole means these managers pay less tax, depriving the government of significant revenue. Closing it could generate $14 billion in revenue — enough to fund essential public services like the CDC, which was $4.5 billion short in 2023.

It’s infuriating that these wealthy individuals aren’t paying their fair share, while still benefiting from public services funded by ordinary taxpayers. Some argue this loophole is justified, but in any other profession, bonuses are taxed at the regular rate.

I now vote based on values, not just political affiliation. Supporting candidates who advocate for closing tax loopholes like carried interest is crucial for a fairer future. Contributing your fair share is an American value, and I hope others will join me in voting for a fairer tax system.