Aug 6, 2007

Corzine bets on capital markets

Responding to Republicans charges to Democrats' revoking hedge-fund managers' special tax treatment will hurt capital markets, New Jersey Governor Jon Corzine told the Wall Street Journal, "I'll take that bet." The former chairman of Goldman Sachs pointed out,
Most hedge-fund executives privately concede "carried interest" should be taxed as ordinary income, he adds in an interview, and consider the current capital-gains break "found money" they hadn't planned on until tax accountants pointed it out.

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