The bill, which would impose “a surcharge on income derived from investment management services,” would cover investors from all income levels.
What a terrible idea. Gov.
The hedge fund tax, he said, “could in fact drive those people out of the state.”
Hedge fund managers don't need to live in
Proponents say such a tax could raise more than
The finance industry helps to provide a great deal of the state's income, especially from those who live in the hedge fund territory of
Risking that is irresponsible. On the other hand, making
The bill doesn't seem to have much of a chance, especially since it requires
But legislators, even those who call themselves progressive and want to help low-income residents, need to understand that the financial services industry is critical to the health of the state and pays for many of the services they desire.
Over-taxing the rich, especially in
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