4min chapter

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

20VC: Larry Summers on How to Manage Inflation; Should We Increase Rates Even Higher, Why We Need To Change The US Tax System, Why Europe is a Museum, China is a Jail and Bitcoin is an Experiment & How a Trump Win Would Hurt the US Economy

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

CHAPTER

Should Carry Interest Be Taxed as Income Tax?

"I don't think a progressive tax system works. I think it disincentivizes people to work hard," he says. "If we have to take some away, it's better to take someaway from those who are less painful." The current top federal income tax rate of 37% really is working to discourage very heavily work, the scientist adds.

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