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Article: Hedge-Fund Tax Really Attacks Capital Gains.
- Article from:
- U.S. News & World Report
- Article date:
- July 11, 2007
- Author:
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Copyright informationCOPYRIGHT 2007 All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: James Pethokoukis
"I have come here not to bury the capital-gains-tax rate, but to save it," was the de facto message delivered by Sen. Chuck Grassley at the U.S. Senate committee hearing I attended today on the wisdom of forcing hedge-, venture-capital-, and private-equity-fund managers to pay a higher tax rate--ordinary income rather than the cap-gains rate--on their 20 percent "carried interest" in the profits of their funds.
The Iowa Republican said he wanted to make it clear that the possibility of changing the tax law was not about raising taxes or "attacking the investor class." People making those charges should "cool it," he said.
Instead, the ...
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