Friday, February 27, 2009

PE Guys are gonna be pissed

Obama’s 2010 budget proposal, released today, proposes raising taxes on the managers by treating carried interest, the portion of profits they take from successful investments, as ordinary income instead of capital gains. That change would boost the tax rate, starting in 2011, to 39.6 percent for most executives from the 15 percent they now pay. - Bloomberg
Thank God I went consulting instead of finance...

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Friday, February 27, 2009