Obama Agrees With "Some Republican Candidates" About Tax Loopholes For Hedge Funds

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PRESIDENT BARACK OBAMA: 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.

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