AMONG THE WORLD’S MOST HIGHLY COMPENSATED PEOPLE
“Some support came from unexpected corners. On May 29th [2010], Fred
Wilson, the co-founder of Union Square Ventures and an early investor
in Twitter, disputed on his blog the notion that reform would impinge on
the flow of capital. 'Changing the taxation of the managers will not reduce
the amount of capital going to productive areas,’ he wrote. ‘It's time for
asset managers to start paying their fair share of taxes. We are among the
most highly compensated people in the world. And we've been getting a
huge tax break for years."
Wilson, the co-founder of Union Square Ventures and an early investor
in Twitter, disputed on his blog the notion that reform would impinge on
the flow of capital. 'Changing the taxation of the managers will not reduce
the amount of capital going to productive areas,’ he wrote. ‘It's time for
asset managers to start paying their fair share of taxes. We are among the
most highly compensated people in the world. And we've been getting a
huge tax break for years."
Alec MacGillis, “The Billionaires’ Loophole,” New Yorker,
March 14, 2016, pp: 64-73.
