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   Chuck Darwin (cdarwin@c.im)'s status on Sunday, 02-Mar-2025 05:21:58 JST Chuck Darwin

   in reply to

   Private equity firms control around one-fifth of the U.S. economy and around 18,000 companies.

   -- and their top executives are among the richest people in the world.

   Stephen Schwarzman, the founder of Blackstone, the world’s biggest private equity firm,
   is worth $50 billion.

   Private equity barons use philanthropy and campaign donations to maintain influence across society.

   🔥One of Wall Street’s goals under the new Trump administration is to preserve special tax rules that boost the wealth of private equity and hedge fund billionaires.

   💥The most important
   — and most egregious
   — of these is the carried interest loophole.
   #privateequity

   https://truthout.org/articles/private-equity-firms-tighten-stranglehold-on-us-angling-for-boons-under-trump/

   • Embed this notice
     Chuck Darwin (cdarwin@c.im)'s status on Sunday, 02-Mar-2025 05:21:59 JST Chuck Darwin

     With a new corporate-friendly Trump regime,
     leaders of #private #equity firms are hoping for tax breaks,
     weakened regulation
     and access to trillions in 401(k) savings
     — all of which could broaden their sector’s reach over our society,
     increase financial risk for millions,
     and further supercharge billionaire wealth.

     “It’s not only that private equity firms are exploiting the tax code to make themselves billionaires,”
     Eileen O’Grady, director of programs at Private Equity Stakeholder Project, told Truthout.
     “They’re also eroding health care, the climate and the quality of jobs across almost every industry.”
     https://truthout.org/articles/private-equity-firms-tighten-stranglehold-on-us-angling-for-boons-under-trump/

     Steve's Place repeated this.