Edwards backs 'Blackstone bill'

Presidential candidate John Edwards stands behind proposed tax hikes for private-equity and hedge fund managers, the Wall Street Journal reported.
JUL 09, 2007
Presidential candidate John Edwards stands behind proposed tax hikes for private-equity and hedge fund managers, the Wall Street Journal reported. Campaigning in New Hampshire, Mr. Edwards told the Journal that he not only supported the so-called Blackstone bill, which would place corporate taxes on publicly traded private-equity partnerships, but he also called hedge fund managers’ earnings to be taxed as ordinary income and not at the 15% capital gains rate. Mr. Edwards also pushed for measures that would keep these managers from avoiding taxes by moving their income into offshore entities. These combined steps would rake in $4 billion to $6 billion in annually, he said. Mr. Edwards’ statement on hedge fund taxation came just in time for this week’s House and Senate committees’ hearings on the issue.

Latest News

Envestnet agrees to buy Vestmark, adding institutional trading muscle
Envestnet agrees to buy Vestmark, adding institutional trading muscle

The deal gives Envestnet institutional-grade trading and tax technology alongside Vestmark's advisory client base

Savvy Wealth lands $100M to scale AI agents for advisors
Savvy Wealth lands $100M to scale AI agents for advisors

The AI-driven RIA has doubled its advisor base to over 150 this year and is on pace to top $100M in annual recurring revenue

Orion expands advisor trading, keeps oversight with firms
Orion expands advisor trading, keeps oversight with firms

New trading tools let advisors execute and rebalance client portfolios directly, while firms retain permission-based control.

Edelman Financial Engines brings fiduciary advice to small business plans
Edelman Financial Engines brings fiduciary advice to small business plans

New ADP-delivered solution gives small and mid-size businesses access to 3(38) fiduciary oversight and participant-level advice for one fee.

Hightower Signature Wealth adds $1.6B Boston-area firm
Hightower Signature Wealth adds $1.6B Boston-area firm

Boston Hill Advisors joins Hightower's national platform as the mega-RIA's latest Massachusetts move drives HTSW closer to its $50 billion target for 2026.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income