Taxing the Carry: This Time It’s Everyone

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The other shoe has dropped.
Top Democratic congressmen introduced legislation that would doubled the tax rates on carried interest. The new tax treatment would treat the carry as ordinary income rather than capital gains. It hits everyone from venture capital funds to real estate funds to private equity firms to hedge funds.
Several prominent hedge fund managers could not be reached for comment. Presumably because they are busy moving their funds off-shore.
Fund Managers' Taxes to Double Under House Measure [Bloomberg]
Text of the Bill [pdf file via PE Hub]

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