Wednesday, September 05, 2007

Magic Johnson says NO to Capital Gains Tax Hike

Link

Minority and women business leaders today plan to announce a new group, the Access to Capital Coalition, to oppose a move in Congress to raise taxes on carried interest, a cut of profits that hedge-fund and private-equity managers receive. Among the high-profile business people enlisted in the fight: Former basketball star Earvin "Magic" Johnson, who now is chairman and chief executive of Johnson Development Corp., which invests in bringing businesses into urban areas.