Cohn, Mnuchin Split Over Carried Interest

The video discusses the complexities of tax rates, focusing on the debate over preferential tax rates for investment fund managers. It highlights the clash between Gary Cohn and Steven Mnuchin over the carried interest tax break, the legislative outcome that preserved the tax break, and the political and policy arguments surrounding it. The video also touches on the lack of political support for maintaining the preferential rate and the views of Senator Pat Toomey.

Why is it politically difficult to argue for preferential tax rates for investment fund managers?

What argument did Pat Toomey make regarding sweat equity?