Law Professor Obliterates the Outrageous Arguments Lobbed Against Justice Alito
James Carville Concedes There's One Voter Bloc Dems Are Absolutely Going to Lose
Joe Rogan's Response to the Trump Guilty Verdict Is Spot-on
Pro-Hamas Supporters Seize Building With Cal State University President Inside
The West Is Sick of the New Woke Jihadism
Florida Newspaper Troubled by Florida Weather and The Atlantic Worries About a Leader...
Preserving the 'Farm' in Farm Bill
Maddow and Stelter Concoct Crazy Theories on Trump's Revenge
If You Don't Want To Be Killed, Don't Take Hostages
European 'Far Right' Issues a Stinging Rebuke to Elites
The American Troubles
The Numbers Don’t Lie: Americans’ Purchasing Power Is Down Under Biden
Run, Sleepy Joe, Run!
Trump Gets Positive Feedback After Floating Proposal of Eliminating Income Tax
ICE Chief Makes Shocking Admission About Illegal Immigrants

Why the Left Hates Private Equity

Here's yet another proposed Democrat tax increase on "the rich" that hits the little guy and hurts the economy. From Steve Forbes:

Why does Congress think that sharply boosting taxes on private-equity companies will do anything other than stall or disrupt what is clearly a thriving American economy? Make no mistake: The Baucus-Grassley legislation in the Senate and the Levin bill in the House to hike levies on private equity and overhaul the taxation of publicly traded partnerships are dangerous. They will inevitably harm American investors and our overall investment climate.

Congress long ago recognized that innovation and risk-taking are the driving forces behind our economic system, and that's why our system is designed to encourage these activities...

... But there's more: Aside from hurting America's economy, this tax hike is patently unfair. Did you know that the money in Private Equity, Hedge Funds, Mutual Funds money that someone has already paid federal, state and city taxes on?

So to say that someone is getting an unfair tax break is bs.

Update: One Wall Street insider emails me this: "This is just my opinion - but if they raise taxes on private equity and hedge funds the market would have a huge crash. Private equity speculation and deals has been a big savior for the market in recent months."

(So the answer to "Why the Left hates Private Equity" may be that private equity is good for America and the economy.)

Join the conversation as a VIP Member


Trending on Townhall Videos