The Latest on a "Carried Interest" Tax

The Wall Street Journal picks up a New York Times report of a claim by White House budget director Peter Orszag that the Senate in the next few weeks is going to pass the tax increase on "carried interest" of hedge fund, venture capital, real estate, oil and gas, and private equity fund managers. The Journal also notes a report that Rep. Barney Frank is going to find a way to exempt venture capital, which only underscores how this is an exercise in the government deciding to tax people who are unpopular. My Washington Examiner article on this tax from last month is here.