Wednesday, July 27, 2016

Conservative Backlash Against Vic Fleischer's Appointment As Co-Chief Tax Counsel For Senate Finance Committee Democrats


"It took a little while, but prominent conservatives in the tax field are starting to question Sen. Ron Wyden's decision to bring on Victor Fleischer as co-chief tax counsel for Finance Committee Democrats. Fleischer, a University of San Diego law professor, helped jump-start the movement to end the preferential tax treatment of carried interest, which has become something of a cause celebre among Democrats.

Grover Norquist of Americans for Tax Reform said he had no issue with Fleischer himself. But the author of the famous anti-tax pledge told Morning Tax that he believes the appointment underscores that Democrats will be using carried interest to try to take GOP eyes off of a bigger prize. Presumptive Democratic nominee Hillary Clinton "wants $100 billion a year in tax hikes. They want to fight over this and get us wrapped over the axle on this [carried interest] tax hike, but what they really want is 50 times bigger than this," Norquist said. "This is an old trick. It's a tactic where you act as if you're talking about a little thing, when you're really talking about a much bigger thing." (To be clear: Norquist has publicly opposed proposals to scrap the current treatment of carried interest, and remains against raising any taxes on capital gains.)"

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