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Friday, September 07, 2007
Paper Demystifying Carried Interest Issues Released
Following up on the letter we reported was distributed this week from 300 organizations urging members of Congress to close the carried interest tax loophole, a working group of policy analysts has released a paper for advocates, legislative aides and members of the media.
The paper, "Addressing Objections to H.R. 2834 — the Levin Carried Interest Bill," demystifies objections to the bill raised by private lobbyists defending the carried interest loophole and offers responses to those objections.
The paper concludes, "The bottom line is millionaire fund managers should not be able to pay a lower tax rate on their income than the people who clean their offices and answer their phones. It really is as simple as that."
Contributors to the paper include: Professor Lily Batchelder, NYU School of Law and Tax Policy Center; Jonathan C. Goldstein, Thacher Proffitt & Wood LLP; Heather Slavkin, AFL-CIO; Steve Wamhoff, Citizens for Tax Justice, and yours truly.
Posted by Dana Chasin
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