Post Tagged with: "US House of Representatives"

Tom Rice and Private Equity Tax Increases

April 29, 2017 4:38 PM
Tom Rice and Private Equity Tax Increases

(The following is a op-ed piece sent to Grand Strand Daily. Pictured above is the writer.)

By John Bonsignor

Recently, Rep. Tom Rice caught flack for his support of certain tax increases being discussed in Washington D.C., and rightfully so.

He rebuffed those claims, stating in a McClatchy news article “that his goal was to tackle tax code changes by making the American economy competitive without increasing taxes.”

A specific example of this is his support of increasing taxes on private equity partnerships’ carried interest. Carried interest is currently taxed at a capital gains rate. Rice, along with many Democrats, want to raise it to the level of ordinary income rates. It’s currently (and appropriately) taxed at the capital gains rate due to the long-held nature of the investment and the sweat equity poured into a business, all principles that are the cornerstone of our American economy.

Rice is a real estate investor and tax accountant. While his tax increase wouldn’t impact his investments, it would hurt private equity investors and their ability to reinvest into our economy.

Is Rice looking out for the economy? Or himself?

It appears Rice is in love with tax increases when he should be against them.

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A View on the Budget Compromise

December 19, 2013 9:15 AM
A View on the Budget Compromise

I had to let out a hearty laugh recently when I saw that the House of Representative passed the budget compromise measure.

Especially when so many of my political friends were jumping for joy that bipartisanship is not on life support after all in Washington, D.C.

Forgive me for not blowing out my knee while jumping for joy.

Instead, I laughed because the budget compromise is just another prime example of a bill that was passed but never truly read.

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Sanford Easily in SC 1st Congressional District

April 3, 2013 5:00 AM
Sanford Easily in SC 1st Congressional District

Mark Sanford is two-thirds of the way back to Congress after disposing of Curtis Bostic rather easily Tuesday night in a primary runoff for the Republican nomination for the SC 1st Congressional District seat in the U.S. House of Representatives.

Sanford won by a 57% – 43% margin with just over 10% of the registered voters showing up to cast a ballot.

The only remaining obstacle to Sanford’s successful return to Washington is Democratic nominee Elizabeth Colbert Busch.

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Elizabeth Moffly Declares for SC 1st District

January 21, 2013 10:01 AM
Elizabeth Moffly Declares for SC 1st  District

Elizabeth Moffly declared her candidacy for the open 1st Congressional District seat last Thursday to a gathering of her supporters at Geechie Seafood at Shem Creek.

Moffly, currently a Trustee on the Charleston County School Board, combines a history of independent thinking with the courage to speak out on issues.

She told her supporters she considers public service a higher calling – “to be a voice for the people where decisions are being made that have a direct effect on our lives.”

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Tim Scott Deal Cut Early?

December 11, 2012 9:00 PM
Tim Scott Deal Cut Early?

Several inside sources have told us that a deal was cut between Sen. Jim DeMint and Gov. Nikki Haley to name Rep. Tim Scott as DeMint’s Senate replacement weeks before DeMint announced his resignation.

This tracks with events since DeMint’s announcement. Scott’s was the first name heard as a possible replacement. Scott is, reportedly, the choice of Republican leaders at the state and national level because of his conservative credentials and the fact that he could give an immediate, high-profile minority visage to a party that desperately needs one.

Several candidates, eager to replace Scott in the 1st Congressional District, are already sounding out supporters in preparation for a special election.

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