Bizarre Government Regulation: Dems going after one particular company
The legislation would require publicly-traded partnerships to be treated as corporations for federal tax purposes. Under current law, income distributions for many private-equity funds are taxed at the capital-gains rates of 15% -- well below the top corporate tax rate of 35%. . . .
What is the point of imposing a 20 percentage point higher tax rate on a company just because it is publicly traded? Here you have only one company that this legislation could possibly be aimed at.