Michael Knoll of the University of Pennsylvania has a new study, which points out that raising the tax rate will not result in additional revenue for the government (something conservatives have always known about raising taxes).
As Bloomberg reports:
Knoll's study may be the first comprehensive, nonpartisan mathematical analysis of the fiscal effects of increasing taxes on so-called carried interest. It signals an uphill battle for lawmakers trying to raise the money needed to pay for eliminating the alternative minimum tax for about 23 million mostly middle-income households.
In addition to the alter behavior argument (which is really just another example of liberals counting money that isn’t really there) -- it seems Wall Street is always leap years ahead of the federal government when it comes to tax issues ...