September 21, 2011
Joseph Perry, Partner-in-Charge, Tax & Business Services, Discusses President Obama's Proposed Deficit Reduction Plan on FoxNews Live
Joseph Perry, Partner-in-Charge of Tax and Business Services at Marcum LLP, was interviewed on FoxNews.com LIVE regarding the impact of President Obama’s proposed deficit reduction plan. Among the issues Mr. Perry discussed were: President Obama’s proposal to create a minimum tax rate for millionaires – the so-called “Buffett tax” – and to do away with the mortgage interest deduction, something Mr. Perry argues will have a negative impact not just on high-income homeowners, but middle-income homeowners as well.
Mr. Perry also discussed President Obama’s proposal to tax the carried interest income of hedge funds and other investment firms at the higher ordinary income rate and the impact this could have on many hedge funds that trade actively in and out of the market.