Tuesday, September 28, 2010

Carried Interest.

I know a lot of these guys who started hedge funds. They are making large profits, taking home large incomes, but because of a rule called "carried interest," they are paying lower tax rates than their secretaries, or the janitor that cleans up the building. Or folks who are out there as police officers and teachers and small-business people. So all we've said is that it makes sense for them to pay taxes on it like on ordinary income.

-President Obama.

Does anyone disagree with this? Other than those who benefit from the carried interest loophole? The transcript of the entire interview can be found here.