Sarbox was good, but if we * really * want to kill things around here…
http://www.nytimes.com/2007/09/21/busine…
…Supporters of the higher tax rate argue that the current structure lets [ venture capitalists ] pay a lower tax rate for returns on their labor than a typical American worker.
“This quirk in tax law is what allows some of the richest workers in the country to pay tax on their labor at a low rate,” Victor Fleischer, an associate law professor at the University of Illinois, said in remarks this month before the House Ways and Means Committee…
So clearly the right solution is to cripple the venture capital industry, and let less startups be funded.
September 24th, 2007 at 10:26 am
Right, and clearly, the fact that they pay far more in absolute dollars than you or I combined is irrelevant.