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Of the money they earn. here's the bottom line. it is not their money and it is not their risk. they get to pay 20% on the equivalent of their wages. last i checked everyone else's taxes are taxed at a normal income tax rate. joining us is michael. can you just explain the significance of this loophole? we're talking real money, right? >> we're talking real money, erin. we're talking about a lot of money. i mean, this would basically double the tax that venture capitalists and private equity investors have to pay every year. you've been right on this all along. it's inconsistent with current t...

Inconsistency in tax policy, it's not fair, it's a loophole. i think it's really encouraging though because you have the right wing, the republicans saying we're going to do something about it, we're going to close a tax loophole and we'll raise taxes on very rich people because we do have a significant deficit and we're printing money and it's time to act responsibly. >> michael far, we appreciate that. still to come, we're watching arizona where the governor is expected to make a major announcement at this hour about the religious freedom bill that we've been talking about. we'll be there li...

You said, look, this is an inconsistency in tax policy, it's not fair, it's a loophole. i think it's really encouraging though because you have the right wing, the republicans saying we're going to do something about it, we're going to close a tax loophole and we'll raise taxes on very rich people because we do have a significant deficit and we're printing money and it's time to act responsibly. i applaud them. >> michael far, we appreciate that. still to come, we're watching arizona where the governor is expected to make a major announcement at this hour about the religious freedom bill that ...