01/29/2011 05:12 am ET | Updated May 25, 2011

Pete Peterson, Blackstone Co-Founder, Breaks With His Industry On Carried Interest Tax

Peter G. Peterson, the billionaire co-founder of the Blackstone Group, was the subject of Deborah Solomon's "Questions For" column in The New York Times Magazine on Sunday.

Ms. Solomon asked Mr. Peterson whether he thought it was fair that his proceeds from Blackstone's initial public offering -- about $1.85 billion -- were taxed at the long-term capital gains rate of 15 percent, far less than the 35 percent ordinary income rate. His answer: