Our Failed Political Press ™ (Part Infinity)

Axios (!) tells us that the threats of new taxes —to pay for things like infrastructure from which American corporations will benefit— has corporations planning how to avoid paying them:

VC lawyers and CFOs have spent the past couple of months discussing new fund structures that could offset the elimination of carried interest’s beneficial tax treatment, as proposed last month by the U.S. Treasury Department.

The most popular suggestion is to create special purpose vehicles for a fund’s nonmarketable securities, contributed in-kind via general partners, thus effectively locking in the carried interest.

This would essentially be a tax deferral scheme, with the hope that a future president would reverse the carried interest move and/or lower capital gains rates.

The article continues with a lot of financial stuff that I don’t understand and find baffling then Payola, er, Axios concludes with what a promotion for one of the sources:

The bottom line: Sequoia, per usual, is one step ahead of most of its peers. But they may not be running the same sort of race.

Give Mike ‘Payola’ Allen some props: he’s consistent.

But what got my attention and why I decided to read the article was the title and lede graf:

Biden unlikely to get corporate or individual tax hikes

President Biden is increasingly unlikely to get his corporate or individual tax hikes, at least without reconciliation, and most venture capital firms are keeping their fingers crossed instead of prepping tax avoidance strategies.

…and that’s the last time Axios mentions Biden or reconciliation or anything else about what the article purports to be about, but I suppose if it were accurately titled, Corporations Plan To Avoid Taxes, well, it is really a dog-bites-man story.

This entry was posted in Bankster Bastards, Bastards, Billionaire Bastards, CEO Bastards, Our Failed Political Press, Tax Cheat, tax reform, Taxes. Bookmark the permalink.

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