Thursday, 2 October 2014
Last updated 32 min ago
Mar 5 2010 | 2:51pm ET
If hedge fund and private equity executives thought they’d caught a break with the departure of Rep. Charles Rangel (D-N.Y.) from the helm of the House of Representatives’ tax-writing committee, think again.
Rep. Sander Levin (D-Mich.) has proven no less amenable to closing the so-called “carried-interest” loophole, which could cost alternative investment managers billions than his predecessor. In fact, Levin is a sponsor of the current bill seeking to more than double the taxes paid by many hedge fund managers.
Under Levin’s bill, carried-interest—a managers’ share of his or her fund’s profits—would be taxed as ordinary income, rather than capital gains. That would push the top rate on that money from 15% to 35%.
“This is a basic issue of fairness,” the Levin, the older brother of Sen. Carl Levin (D-Mich.), said in January. “If you put your own money at risk, you get taxed at the capital gains rate. If you put other peoples’ money at risk, your profit should be taxed as ordinary income.”
Rangel stepped down from his post as head of the powerful House Ways and Means Committee temporarily as the House Ethics Committee investigates potential fundraising and personal finance violations.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...