Wall Street Journal Editor Backs Higher Taxes
futureofcapitalism.com

The editor of the Money & Investing section of the Wall Street Journal, Francesco Guerrera, has a column out calling for increased taxes:

It is difficult to defend the fact that private-equity and hedge-fund executives pay no more than 15% on their share of their partnership's profits because it is considered a capital gain.

If it looks like income and smells like income, it should be taxed like income—at much higher rates.

For an alternative view, see my 2010 Washington Examiner column on the topic.

It's bad enough President Obama and some congressional Democrats are calling for increasing taxes on carried interest; now a news editor at Rupert Murdoch's Wall Street Journal is joining in?

Read More...

Wall Street Journal Editor Backs Higher Taxes
futureofcapitalism.com

The editor of the Money & Investing section of the Wall Street Journal, Francesco Guerrera, has a column out calling for increased taxes:

It is difficult to defend the fact that private-equity and hedge-fund executives pay no more than 15% on their share of their partnership's profits because it is considered a capital gain.

If it looks like income and smells like income, it should be taxed like income—at much higher rates.

For an alternative view, see my 2010 Washington Examiner column on the topic.

It's bad enough President Obama and some congressional Democrats are calling for increasing taxes on carried interest; now a news editor at Rupert Murdoch's Wall Street Journal is joining in?

Read More...