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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: CommanderCricket who wrote (118256)2/26/2009 2:29:32 PM
From: pz2 Recommendations  Read Replies (2) of 206325
 
"Of the tax proposals outlined in the budget, the one of most specific interest to Association members is carried interest: the Administration has picked up the proposal to treat all carried interest as ordinary income. The provision is projected to raise $24 billion over 10 years. This is not a surprise, as President Obama as a Senator expressed support for changing the treatment of carried interest and cosponsored the Baucus-Grassley bill to address the carried interest problem by taxing investment management PTPs as corporations. We continue to see no indication that he has any interest in PTPs beyond that. We are working with the staff of the Congressional tax writing committees to ensure that any carried interest legislation clearly excludes the publicly traded PTP GPs, and are confident that we will be able to do so."

Does this mean royalty income will be taxed as regular income?

Ok...admit it...who voted for this...this....this.....guy?

Paul
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