Why New York Subpoenas Won’t Change How Managers Like Mitt are Taxed

The New York Times’ page one splash about the investigation of Mitt Romney’s private equity firm foments continued debate about something we should have been talking about for years. New York issued subpoenas to a dozen firms, not just Mitt’s. The question is whether and how they converted ordinary management fees into carried interests. That’s hardly seems surprising.

http://www.forbes.com/sites/robertwood/2012/09/03/why-new-york-subpoenas-wont-change-how-managers-like-mitt-are-taxed/

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