U.S. Representative Sander Levin of Michigan, the top Democrat on the House Ways and Means Committee, said on Jan. 18 that he plans to reintroduce legislation that would tax carried interest at ordinary income rates.
Private Equity Tax Break 'Indefensible': Calpers
February 14, 2012
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What a farceCalpers is one of the main organizations that has facilitated the transfer of wealth from pensioners to private equity managers. Not only that, but it has itself dealt corruptly in this business. It named an ex-deputy mayor of LA as a director, who then "brought in" Apollo group for a $2b investment by Calpers, and who was paid a $50 million "finders fee" as a reward by Apollo. The whole area is a disgusting fraud, but the last people to be opining about it are Calpers officials. Instead, they should all be fired.