re: The "tax the rich" ideaology.

quote:

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Look, I absolutely hear your position, and don’t even disagree per se, but this is an item that keeps getting brought up, and I have the feeling that it will eventually go away. My clients certainly will not be happy about it.

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Thats fine. I’m open to other proposals to deal with it. However back to original point, just changing the GP’s tax rate isn’t the route. Eliminate GP’s entirely and funds can hire 3rd party account managers that are compensated via a fee structure, but also only operate in the same capacity and liability of one.