Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: JakeStraw	12/10/2009 9:39:23 AM
	1 Recommendation of 74559

The House raises taxes on carried interest. online.wsj.com House Democrats keep stepping on President Obama's applause lines about innovation and job creation. On Tuesday, Mr. Obama announced that "we're proposing a complete elimination of capital gains taxes on small business investment" for one year. Responding with rare dispatch, the House voted yesterday to change the capital gains rate for venture capitalists who invest in technology start-ups. But rather than eliminating the tax, the House more than doubled it, moving the tax rate to 35% from 15% by reclassifying such gains as ordinary income.

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