Mr. Rubenstein, who started the Carlyle Group over 30 years ago, discusses its former chief executive’s sudden departure, the carried interest loophole and what he’s learned from the industry’s titans.
The latest effort to narrow the preferential tax treatment used by private equity executives failed after Senator Kyrsten Sinema objected.
Changes demanded by Senator Kyrsten Sinema will preserve a tax loophole that Democrats have complained about for years.
Legislation agreed to by top Democrats falls far short of closing a tax loophole that party leaders have complained about for years but would narrow its preferential treatment.
How a powerful industry conquered the U.S. tax system.
The I.R.S. almost never audits private equity firms, even as whistle-blowers have filed claims alleging illegal tax avoidance.
President Biden is weighing an end to the carried interest loophole.
