, Columnist
Sure, Debate Carried-Interest Taxes. Or Something That Matters.
Are hedge funders paying too little on some income? Even Grover Norquist doesn't care.
Grover Norquist has bigger taxes to fry.
Photographer: NICHOLAS KAMM/AFP/Getty ImagesWhatever you think about Grover Norquist, this anti-tax crusader is right about one thing: “Carried interest doesn’t matter.”
Oh, it matters politically. It's fundraising gold for Democrats, and a perennial talking point for liberal columnists: hedge funders pay taxes on some of their income at the lower rate for capital gains, rather than the higher rates assessed on “ordinary income” (read: money you earn by working).