“Carried Interest” is Not the Problem Everyone Wants It To Be

By: alanjoelny (Diary)  |  April 22nd at 09:49 PM  | 

John Steele Gordon’s recent Op-Ed in the WSJ opened with following observation: “The question of how to fairly and equitably tax capital gains has been a political problem since the modern personal-income tax was adopted in 1913”. Being a business/financial historian, he gives an adequate overview of the history of capital gains and how it has reached its present state. But because he is not | Read More »

Capital Gains Shell Game

By: alanjoelny (Diary)  |  January 10th at 09:37 AM  | 

Back in 2008 when Obama was debating Hillary Clinton on national TV, Obama noted that raising the capital gains rate would likely reduce federal revenue collections, but insisted it was good policy anyway — because it was a policy of “fairness”. Why would raising the capital gains tax be a revenue loss? The effect of higher taxes on jobs and income would slow the economy. | Read More »