Good. The tortured excuses by hedge funds as to why their pre-packaged deal that doesn’t happen unless and until they have a guarantee of 30 or 40 or 50 percent on their investment, which is at risk for a small number of milliseconds while stacks of papers are being shuffled around, should be taxed as capital gains rather than as income, haven’t gotten any better since this issue first came up a couple of years ago.
Money quote:
“Given the 58 percent increase in taxes paid on capital gains as part of the recent deal to avert the fiscal cliff, it is our hope that any tax reform effort in 2013 will be about crafting policies that incentivize economic growth,” said Steve Judge, president and chief executive of Private Equity Growth Capital Council, responding to Obama’s comments.
Read more: http://www.businessinsider.com/obama-to-tackle-carried-interest-2013-2#ixzz2JwZziz2G