
Lynnely Browning profiles Lee Sheppard in the Int'l Herald Tribune. I don't always agree with Lee, but she does a wonderful job of asking the hard questions and keeping us all current. And give her credit -- a couple of years ago when the Treasury proposed partnership tax regulations which would quasi-codify the status quo on carried interest, Lee was the only one out there making a fuss.
And what would we do without her cultural commentary on what the fashionable set in the Hamptons is wearing these days?
Speaking of the Hamptons, the rioting over carried interest has begun.
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Ms. Sheppard is an iconic figure of sorts.
If you have to write a brief, and need to provide an arresting quote to illustrate what some issue of tax law is really all about, it's always worth doing a search to see whether Sheppard has commented on the topic at some time over the years. She shows no mercy to the duplicitous.
I do not know if you have commented on this before, but the story you link to makes me applaud the savviness of union efforts to focus on these types of issues. Rather than pitting union workers against non-union workers, issue like favorable tax treatment for the wealthy position the unions with the rest of us working folk (I get a W-2 too!).
I still can't figure what's wrong with a quasi-codification of the status quo on carried interest? Isn't it a birthright?
Like the long-held belief that house mortgage interest as a tax deduction is an inalienable right? Maybe more emphasis on practicality and less on ideology is in order.