WHAT’S SO HARD TO UNDERSTAND??
I really want to know what happens to ones thought process once across the Potomac River? If you have not heard the term “Carried Interest” I suggest you keep reading. If you, have keep reading.
Let me get this out of the way. What is Carried Interest?
Very simply, it’s the way partnerships/joint ventures get paid for providing funds to others for their sweat equity. Under current tax rules, this profit is taxed as a Capital Gain.
Enter the 2011 “Jobs Program”
Under the Presidents Job Program, Carried Interest will be TAXED AS ORDINARY INCOME!! This is estimated to raise $18 Billion in new taxes. The National Multi Housing Council (NMHC) and the National Apartment Association (NAA) issued dire warnings to lawmakers on the "devastating effect such a tax increase would have on rental housing… the groups labeled carried-interest proposals a "job-killing tax hike" that would more than double the tax on all carried-interest income, cripple real estate job creation and investment across the country, and fundamentally changing over 60 years of partnership tax law."
Folks this is being sold to Joe Six-Pac as a tax on the RICH Bankers & Hedge Fund managers. Real Estate Investors will get hit just as hard.
All together NOW! Tax the Rich, Tax the Rich, Tax the Rich!
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