Venture capitalist Marc Andreessen believes that carried interest should be treated as ordinary income, according to comments made this morning on CNBC’s Squqak Box. He is the latest in a small, but growing number of influential VCs who agree with President Obama that they are paying too little tax on investment profits derived from third-party capital:
“My personal view is carried interest should be treated as ordinary income. It’s a fee for service. An incentive fee on somebody else’s capital… I would favor reforming it.”
It’s worth noting, however, that Andreessen’s support of Obama’s proposed carried interest change does not extend to an endorsement of Obama as Commander-in-Chief. According to Federal Election Commission records, Andreessen has donated $100,000 to Restore our Future, a SuperPAC supporting Romney. He says that he is now firmly a Republican, after having historically backed candidates and organizations of both parties.
Here’s the full interview:
[cnnmoney-cnbc vid=http://video.cnbc.com/gallery/?video=3000076440]
