Yale's Hacker on Carried Interest
futureofcapitalism.com

A Boston Globe news article takes Republican presidential candidate Mitt Romney to task for defending capital gains treatment for "carried interest" of managers of investment partnerships. The Globe doesn't mention that his tax plan calls for lowering the capital gains rate to zero for those with incomes below $200,000. But the most amazing part of the article is these three paragraphs:

Advocates of using the tax code to reduce income inequality are especially critical of the "carried interest" tax break. "It's probably the biggest loophole in the tax code for super-rich people," said Jacob S. Hacker, a professor of political science at Yale University and co-author of "Winner-Take-All Politics."

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Yale's Hacker on Carried Interest
futureofcapitalism.com

A Boston Globe news article takes Republican presidential candidate Mitt Romney to task for defending capital gains treatment for "carried interest" of managers of investment partnerships. The Globe doesn't mention that his tax plan calls for lowering the capital gains rate to zero for those with incomes below $200,000. But the most amazing part of the article is these three paragraphs:

Advocates of using the tax code to reduce income inequality are especially critical of the "carried interest" tax break. "It's probably the biggest loophole in the tax code for super-rich people," said Jacob S. Hacker, a professor of political science at Yale University and co-author of "Winner-Take-All Politics."

Read More...