[David]

And frankly, I think taxing carried interest is beyond the intellectual capability of the people writing tax legislation--I think they have trouble doing it at all.

That's probably excessive.

Gain on sale of the carried interest is presently taxed at Long Term Cap Gains rates and the complaint is Cap Gains rates instead of Ordinary Income rates.

But the bottom line is that it is going to be very difficult to reach carried interests with ordinary tax under the current system. Evidence is that they have had bills to do so every session and they can't seem to construct one that works.

Next Post is Trump.

[LucyT]

Check out # 109 and # 110 . ... Worth the read.

Thanks David.