Wednesday, April 14, 2010

Time to end the Carried Interest giveaway

Although I'm sure this won't please some of the big donors, it's time that the Senate follows the lead of the House and end the carried interest loophole. In a nutshell, the loophole allows certain hedge fund and private equity managers to tax their earned income at the much lower 15% capital gains rate. There's no economic reason or benefit for allowing Wall Street to take nearly $3 billion dollars off the table each year. Senator Schumer, initially a staunch opponent of fixing the problem, seems to be softening his position so perhaps we'll be able to finally put an end to it. - RJ4US

Senate again eyes carried interest sources

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