Many of you are following the private equity tax hike battle with obvious self-interest. With the hearings this week, the issue has really heated up. In a way, this is the result of a backlash of sorts that started back when Blackstone went public. I am not sure the public really gets irate about people getting rich. This is America after all. But the issue has been framed by proponents of higher taxes as one of fairness. Higher taxes will still be hard to be put into effect given the amount of money that the industry can throw at the problem. But the debate is interesting. A flavor for the arguments: Executives argue that higher taxes will force the industry overseas. CBO guys say lots of funds are overseas already and the income is still taxed. You could argue both ways endlessly.  

For more:
- here's an AP wrap up

Related articles:
- What to make of Blackstone's earnings
- Private equity fundraising frenzy continues