Fox host shreds GOP tax bill: It’s a gift for ‘private equity fat cats’

A Fox Business host shredded the GOP tax bill, as well as President Donald Trump’s support for it, both on air and on Twitter this week.

Fox Business’ Trish Regan attacked the plan for how it benefitted “fat cat private equity investors.”

Regan wondered how “a private equity investor has a lower tax bracket” than a New York City police officer while wondering if “our country is becoming ungovernable.” Regan used Blackstone Group CEO Steve Schwarzmann as an example, as he “calls his income, investment.”

Regan noted how Trump had promised to close special interest loopholes like the carried interest deduction, which in Trump’s words had “been so good for Wall Street investors and for people like me.”

Regan noted that neither the House nor the Senate addressed the loopholes.

“Those private equity fat cats get away with paying investment taxes instead of income taxes, and this is just wrong,” she said. “So why doesn’t anyone care?’

Regan then cut to a previous interview with Treasury Secretary Steve Mnuchin — a former head of Goldman Sachs — in which Mnuchin said the money the private equity investors classify as investment income was “not that much money,” though Regan noted it was around $100 billion dollars. At this point, Regan wondered about the influence of special interest lobbyists in Washington.

“I’m beginning to wonder if our country is becoming ungovernable, because I’ll tell you one thing, our founding fathers never ever anticipated a swamp like the one we have today.”

After the segment, Regan posted a similar sentiment on Twitter, accompanied by the video clip.

“How is it fair that a private equity investor has a LOWER tax bracket than a NYC Cop?! This is just WRONG! Wasn’t the President supposed to CLOSE these special interest loopholes? Seems like our country is becoming ungovernable,” Regan tweeted.

Of course, the GOP tax bill passed its final vote in the Senate and initially had done so in the House, though a Byrd rule violation forced a revote.