Dear Editor: Attempts in Congress and the White House to raise taxes on a type of investment known as carried interest are foolish and void of the economic realities of how businesses and investments work in our economy.
As a small business owner, I can tell you the quickest way to get fewer investments into small businesses and our economy is to reduce the incentive of investors to risk their time and money. That’s why efforts in Congress to nearly double taxes on carried interest for investors will not only push away investors, it will cause job loss and hurt Wisconsin companies.
In fact, according to data on the American Investment Council website, the types of investors that would be subject to this massive tax increase invested over $9.7 billion in our state in just 2020 and supported over 222,000 Wisconsin jobs. That’s real money and real jobs that will be pushed out of our economy if investors are forced to pay this massive tax hike.
Our nation has plenty of problems, but too much private investments isn’t one of them. Congress and the president need to use some common sense and abandon their plan to double taxes on carried interest investments.
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