Monday, July 30, 2007

Congressional Class Warfare

"Not content to merely spend the record influx of cash coming into the federal treasury, some members of Congress are pushing to hike the capital-gains tax on so-called "carried interest" -- the share of partnership profits, typically 20%, that hedge-fund and private-equity investment managers have not sold to their outside investors. This would be nothing more than a punitive tax on those the congressmen perceive to be making too much money...."

That's a snippet from today's Wall Stret Journal op-ed, "The Smart Way to Soak the Rich" by Phil Kerpen.

Mr. Kerpen's dead right. He will be joining us on Kudlow & Company later this week with his perspective.