Campaign To Help Increase The Taxes On The Super Rich Gains Momentum
Posted by admin at 10:32 AM. Filed under: Uncategorized
The Campaign to increase the taxes paid by the Super-Rich and Wealthy Hedge Fund and Private Equity Managers got some serious backing and a massive boost on Friday with the endorsement of leading Congressional Democrats on Friday
Charles Rangel, House Ways and Means Chairman and Barney Frank, Financial Services Chairman joined a dozen lawmakers co-sponsoring legislation that would require managers of certain private partnerships to pay ordinary income-tax rates of as much as 35% on “carried interest” — a cut of profits they receive — which currently is taxed at the 15% long-term capital-gains rate.
More info: http://online.wsj.com/article/SB118255424973845346.html?mod=home_whats_news_us
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