Robert L. Johnson on 'Carried Interest' Taxes

http://www.futureofcapitalism.com/2010/06/robert-l-johnson-on-carried-interest-taxes

The founder of Black Entertainment Television, Robert Johnson, is getting into the debate on taxing "carried interest" of fund managers. He appeared on CNBC to discuss the issue ("It's a bad deal to be raising taxes now, and it's a particularly bad deal to be singling out one industry...We are a convenient target. The assumption is that private equity is a bunch of fat cats."), wrote an op-ed for The Hill about it ("Despite claims by policymakers and others that raising taxes on so-called "carried interest" will only affect a small group of wealthy fund managers, the real impact will be felt by workers and small business owners on Main Street who desperately need access to private capital to survive, prosper and grow."), and issued a statement: "In my opinion, this legislation would cause a rapid decline in minority private equity firms and possibly eliminate minority participation in this important financial sector of the American economy."

by Editor  |  Jun 4, 2010 at 10:08 am Related Topics:  Press, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list