In a much-anticipated video titled, “Danger Ahead: A Message From Carl Icahn,” the renowned financier and shareholder activist weighed in on the U.S. elections and Donald Trump’s 2016 presidential campaign. In Icahn’s view, political dysfunction has badly damaged the U.S. economy. Donald Trump, he argues, is the only candidate with the tenacity to turn this country around. (Source: Carl Icahn, last accessed September 30, 2015.)
Here are a few snippets from Icahn’s discussion. They have been lightly edited for clarity.
Political infighting and the unwillingness, or perhaps inability, of congress to push through necessary reforms requires strong leadership. In other words, a confident leader who does not feel the need to tiptoe around the various competing interests in Washington is exactly what’s needed to cut through the smog choking the American political process.
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One obvious problem is the carried interest tax loophole, which Trump has promised to eliminate. This regulation allows hedge fund managers to claim their income as a capital gain, which is subject to a much lower tax rate. While the loophole is popular on Wall Street, it shifts more of the tax burden onto middle class and poor households.
A lack of confidence in the establishment is the first step towards a fundamental shift in the American political system, and Carl Icahn sees Donald trump as the best choice to bring about that change.
You can watch Icahn’s full video here. His commentary on Trump begins at 1:37.