Congressional Democrats — with some significant Republican help — are trying to raise taxes on carried interest capital gains, viewing hedge fund managers as a promising revenue source. Many conservatives are resisting. Today’s Wall Street Journal reports that some centrist Democrats, fearing unintended consequences and industry opposition, are as well.
This suggests Democratic efforts to raise taxes will have difficulty surviving public scrutiny. Let’s hope this pushback keeps the Bush tax cuts from expiring as well.
It is impossible to overstate the tone-deafness of America’s Catholic...Read More