As explained by a spot-on article in ''[[Mother Jones]]'', private equity is "a $7.3 trillion industry that touches basically everything in your life, and it’s growth has had serious consequences for workers, patients, and consumers."<ref name="M">https://www.motherjones.com/politics/2023/02/toomey-private-equity-carried-interest/</ref> Private equity exploits a notorious "carried interest" tax loophole, and senators who have prevented its repeal have subsequently joined private equity firms benefiting from it, as [[Opposition to Donald Trump|anti-Trump]] [[Pat Toomey]] did in 2023 after being an "all-star" in protecting the tax dodge against efforts by Trump to repeal it.<ref name="M"/> | As explained by a spot-on article in ''[[Mother Jones]]'', private equity is "a $7.3 trillion industry that touches basically everything in your life, and it’s growth has had serious consequences for workers, patients, and consumers."<ref name="M">https://www.motherjones.com/politics/2023/02/toomey-private-equity-carried-interest/</ref> Private equity exploits a notorious "carried interest" tax loophole, and senators who have prevented its repeal have subsequently joined private equity firms benefiting from it, as [[Opposition to Donald Trump|anti-Trump]] [[Pat Toomey]] did in 2023 after being an "all-star" in protecting the tax dodge against efforts by Trump to repeal it.<ref name="M"/> |