Any tax increase that specifically targets private equity, venture capital, real estate and other long-term business investments is counterproductive to reaching that goal Margaret Thatcher reminded us that one of the problems with socialism is you “eventually run out of other people’s money,” but that doesn’t stop liberals like Senate Minority Leader Chuck Schumer (D-NY) from finding more sources. His latest crusade is an effort to increase taxes on investment income – namely carried interest capital gains. For several years Schumer opposed increasing capital gains on carried interest, but now, after declaring he will work with President Trump when he...
