Once Again I Shoot Myself in the Foot with feeble attempts at irony
Reader comment on: Carried Interest
Submitted by Peter Reilly (United States), Aug 22, 2011 12:55
The overaching theme of my four posts on the subject of carried interest has been that many people comment on it without having any understanding of the the tax principles involved.. The proposed legislative fix might do a lot of collateral damage. My editor had asked whether one proposal for fixing the problem would work without legislation would work. I was a little skeptical. Then as I thought about it, I came up with a different idea.
As the confusion indicates I don't have a strong opinion as to whether it is a good idea or not or how bad a thing it really is or if it is a bad thing at all. I think there is a perception that there is some sort of special break for hedge fund managers. The reality is that they are just taking advantage of the way partnerships work. The proposed fix adds significant complexity to an area that is already more than enough complicated
Thanks for remarking on my post
I've been bloggin on tax issues for a little over a year now.
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