Interesting article in the L.A. Times: Huge Wall Street Paydays Are Focus of Tax Debate; Some in Congress Say Private Equity Fortunes Should be Taxed as Earnings (35%) Rather Than Capital Gains (15%), by Jonathan Peterson & Walter Hamilton:
In a new age of fabulous fortunes, the tax rate paid by a breed of financial billionaires is fueling a Wall Street-versus-Washington dispute over fairness in the U.S. economy.
