Obama's Hedge Fund Tax

I am certainly no tax maven, but do represent hedge fund managers. According to Bloomberg News "[t]he budget proposes to require general partners at private-equity firms and other investment partnerships such as venture-capital firms and hedge funds to pay ordinary income-tax rates on their compensatory share of profits called “carried interest,” which currently qualifies for the 15 percent capital-gains treatment. That proposal, which would exempt real- estate partnerships, would raise $24 billion.
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