To: President Donald Trump, The United States House of Representatives, and The United States Senate
Close Carried Interest Loophole to Aid Syrian Refugees
Just Foreign Policy
The US should fully fund World Health Organization, World Food Program and other UN programs to aid Syrian refugees in the Middle East.
Why is this important?
A prime reason for the wave of refugees washing into Europe is the deterioration of the conditions Syrians face in Lebanon, Jordan and Turkey, a worsening largely caused by sharp falls in international funding, the New York Times reports. [1] The UN Syria Regional Refugee and Resilience Plan had by the end of August received just 37% of the $4.5 billion appeal for needed funds this year.
It would cost less than a billion dollars to close the U.S. share of this shortfall, and increased U.S. contributions would encourage other countries to step up. A billion dollars might seem like a lot of money, but compared to U.S. military spending and tax breaks for the super-rich, it’s small change.
The Treasury Department says closing the “carried interest loophole” that allows super-rich hedge fund managers to pay a lower tax rate would alone save $18 billion over 10 years [2]; one expert says the number is far higher [3]. In June, the Washington Post reported that the CIA was spending $1 billion this year in military aid to Syrian rebels that both Democrats and Republicans said wasn’t working [4]. That’s different from the Pentagon’s program to aid Syrian rebels, which Democrats and Republicans said this week is also not working. Congress appropriated half a billion for the Pentagon program in 2015 and the Pentagon is asking for even more money next year. [5]
Urge the Administration and Congress to fully fund UN efforts to aid Syrian refugees in the Middle East by signing our petition.
References:
1. http://www.nytimes.com/2015/09/20/world/un-funding-shortfalls-and-cuts-in-refugee-aid-fuel-exodus-to-europe.html
2. http://www.nytimes.com/2015/09/18/business/with-trump-as-foe-carried-interest-tax-loophole-is-vulnerable.html
3. http://www.nytimes.com/2015/06/06/business/dealbook/how-a-carried-interest-tax-could-raise-180-billion.html
4. https://www.washingtonpost.com/world/national-security/lawmakers-move-to-curb-1-billion-cia-program-to-train-syrian-rebels/2015/06/12/b0f45a9e-1114-11e5-adec-e82f8395c032_story.html
5. http://thehill.com/policy/defense/253816-general-only-four-of-five-us-trained-rebels-in-syria
It would cost less than a billion dollars to close the U.S. share of this shortfall, and increased U.S. contributions would encourage other countries to step up. A billion dollars might seem like a lot of money, but compared to U.S. military spending and tax breaks for the super-rich, it’s small change.
The Treasury Department says closing the “carried interest loophole” that allows super-rich hedge fund managers to pay a lower tax rate would alone save $18 billion over 10 years [2]; one expert says the number is far higher [3]. In June, the Washington Post reported that the CIA was spending $1 billion this year in military aid to Syrian rebels that both Democrats and Republicans said wasn’t working [4]. That’s different from the Pentagon’s program to aid Syrian rebels, which Democrats and Republicans said this week is also not working. Congress appropriated half a billion for the Pentagon program in 2015 and the Pentagon is asking for even more money next year. [5]
Urge the Administration and Congress to fully fund UN efforts to aid Syrian refugees in the Middle East by signing our petition.
References:
1. http://www.nytimes.com/2015/09/20/world/un-funding-shortfalls-and-cuts-in-refugee-aid-fuel-exodus-to-europe.html
2. http://www.nytimes.com/2015/09/18/business/with-trump-as-foe-carried-interest-tax-loophole-is-vulnerable.html
3. http://www.nytimes.com/2015/06/06/business/dealbook/how-a-carried-interest-tax-could-raise-180-billion.html
4. https://www.washingtonpost.com/world/national-security/lawmakers-move-to-curb-1-billion-cia-program-to-train-syrian-rebels/2015/06/12/b0f45a9e-1114-11e5-adec-e82f8395c032_story.html
5. http://thehill.com/policy/defense/253816-general-only-four-of-five-us-trained-rebels-in-syria