obamahood's trillion dollar tax plan

#2
#2
taxing carried interest as income? That's brutal to those in my world and silly.
 
#5
#5
volinbham said:
Won't the carried interest provision hit seniors pretty hard?
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Whoa. That's different than what I'm thinking about?

I'm thinking about a loan in which the interest is capitalized, so I'm funding it from loan proceeds. We call that carried interest or capitalized interest and it's generally a part of our basis in a property. If I have to call that income going forward, it will dramatically change the size and number of deals I can do.

What are you thinking it might be?
 
#6
#6
That picture of robin hood got me thinking. I was thinking that obama has now ruined the robin hood movies for me. But then I realized the difference between robin hood and obama is that robin hood was rebelling against the government and obama is the government. We are living in a world where robin hood is the sherrif of nottingham.
 
#7
#7
carried interest has to do with "income" received from partnerships. it's basically the way hedge funds can charge fees, take no investment from the partners, and claim that the should be taxed at the tax rate of the actual hedge fund. frankly it's complete bs and should be taxed at ordinary income. edit: it would be like a mutual fund manager charging 1% on the fund and then only paying a 15% tax rate on the fee because the fund only payed long term capital gains instead of the management fee being income which of course it is.
 
#8
#8
droski said:
carried interest has to do with "income" received from partnerships. it's basically the way hedge funds can charge fees, take no investment from the partners, and claim that the should be taxed at the tax rate of the actual hedge fund. frankly it's complete bs and should be taxed at ordinary income. edit: it would be like a mutual fund manager charging 1% on the fund and then only paying a 15% tax rate on the fee because the fund only payed long term capital gains instead of the management fee being income which of course it is.
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got it. didn't know that was called carried interest.

Bet those structures change up some.
 
#9
#9
Personally i'm with obama on this <probably a first>. the only problem is there are some non-hedgefund partnerships who will get screwed. particurally real estate managers who are used to giving ownership in projects to favored employees. of course really it is bs that this isn't considered income either. the fact is that some people have gotten away with crap that wouldn't be anywhere close to legal at a public company for years. though if i worked for a private real estate shop i'd be real concerned. you figure not only does your upside drop because of the economy but now it get's taxed at twice the rate. burn.
 
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#11
#11
UT IE 95 said:
So, upon further analysis, this is a good thing for Joe Public?
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it's only a few billion of the trillion. The well over 500 billion that can be attributed almost solely to wealthy tax increases has trouble written all over it.
 
#12
#12
UT IE 95 said:
So, upon further analysis, this is a good thing for Joe Public?
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the only part of the bill i agree with is the carried interest portion and as BPV says it is a very small % of the overall tax increases. and it should be noted that with most hedge funds down significantly this year the incentive fees are mostly nonexistent. so i very much doubt that the projected taxes will be anywhere near what they actually collect.
 
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