Henry Kravis is giving Steve Schwarzman a run for his money -- at least when it comes to public vilification.
Henry KravisThe Service Employees International Union and MoveOn.Org have made Mr. Kravis the Dr. Evil of a new crusade to raise the tax rate on carried interest. Carried interest, which refers to the cut that private-equity partners make from profitable deals, is taxed at 15% rather than at the usual income-tax rate. A proposal was floated in Congress last year to raise the rate, but the effort hasn't resulted in any changes.
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