The Private Equity Growth Capital Council has a new president with Democratic credentials who has been through Washington's revolving door.
Steven Judge won the job after serving since last year as interim head of the trade group, which, among other things, lobbies against proposals to increase taxes on carried interest. Those proposals have gained steam in recent weeks because of revelations that carried interest enabled GOP presidential candidate Mitt Romney to keep his tax rate lower than that paid by many Americans who made considerably less.
Before coming to the council, Judge worked for 14 years as the lead ...
Continue readingRangel Out: The Particulars
Rep. Charlie Rangel temporarily resigned his chairmanship of the House Ways & Means Committee pending the completion of various ethics... View Article
Continue readingCongress vs. Hedge Funds
This Bloomberg story that covered how James Simons, the highest-paid hedge-fund manager in the U.S. last year (and one of the Forbes 500 richest Americans), could pay enough in Medicare taxes to provide health insurance for about 4,800 senior citizens is a good story about a policy fight that is about to be engaged. Rep. Sander Levin has proposed requiring that the earnings of such executives to be classified as compensation and subject them to the 2.9 percent Medicare tax.
But as a policy story, there was more I wanted to know, not the least of which was an understanding of the chances of Levin's proposal becoming law.
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