tag:blogger.com,1999:blog-9187544071118409681.post4112383440457812078..comments2024-02-19T11:19:04.727-06:00Comments on entreVIEW: Its Baaaaaaack! The American Jobs Act of 2011 Proposes to repeal capital gains treatment for Carried Interest in fundsLathrop GPMhttp://www.blogger.com/profile/17304437343562418793noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-9187544071118409681.post-69269358673847666012011-09-16T13:49:04.995-05:002011-09-16T13:49:04.995-05:00Well said. Keep in mind that the tax comes at the ...Well said. Keep in mind that the tax comes at the back end of innovation, at sales. While capital gains vs. ordinary income would also come at an exit, its those proceeds that are usually reinvested into new funds, new companies and in turn fuel innovation and create jobs. <br /><br /><br />The Minneapolis/St. Paul Business Journal stated that Minnesota would lose 2,700 jobs with the medical device tax.Kermit Nashnoreply@blogger.comtag:blogger.com,1999:blog-9187544071118409681.post-68242228666066545592011-09-16T12:38:56.672-05:002011-09-16T12:38:56.672-05:00I find it ironic that the very policy makers that ...I find it ironic that the very policy makers that are positioning themselves as job creators are actually killing job growth. Kermit Nash has hit the nail on the head. Hiding the tax change in the President’s jobs bill is yet another “stealth” way of further adjusting the tax burden onto those that are the most productive in creating jobs. Biotechnology is a significant growth potential area for the U.S. economy; however since 2000 more than 297,000 pharmaceutical jobs have been lost in the U.S. As part of the 2010 Patient Protection and Affordability Act, medical device companies in the U.S. will be taxed an additional 2.3% on revenues. AdvaMed, a respected industry watch dog group estimates that this tax alone will eliminate up to 43,000 private sector jobs in the medical technology field in a few short years. Medical device companies continue to announce workforce reductions through the rest of 2011, 2012 and into 2013 when this tax goes into effect so that medical device companies can pay this tax.<br />It is time that we return the U.S. economy to a growth pathway of lower taxes, reasonable regulation and an overall environment that supports growth in the private sector.Anonymousnoreply@blogger.com