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Posted on 03/28/2009 7:55:09 PM PDT by ProtectOurFreedom
Silicon Valley venture capitalists, who have applauded the Obama administration's science, energy and health care initiatives, are growing increasingly anxious that the president and Congress will subject their industry to both closer scrutiny and higher taxation.
Obama's budget plan already signals changes in tax policy. And new fears were raised by Treasury Secretary Timothy Geithner's statement Thursday that advisers to venture capital funds, private equity firms and hedge funds should for the first time be required to register with the Securities and Exchange Commission and file reports to enable the government to assess whether the funds "individually or collectively pose a threat to financial stability.''
"People are very nervous, that's for sure," said attorney Jonathan Axelrad of Goodwin Procter, who represents many valley VCs. "I do get questioned by clients who are afraid the venture capital industry will be swept up in regulations designed to address problems that originate in other industries."
One particular fear of the VC community was captured in a blog posting by Benchmark Capital partner Bill Gurley, in the form of an open letter to Geithner: "Depending on the regulation, this could require VCs to disclose specific metrics about the private companies in which they have invested, robbing these companies of one of the key benefits of being private," he wrote.
The Obama administration, Heesen suggested, would be wise to focus its scrutiny elsewhere.
(Excerpt) Read more at mercurynews.com ...
“Silicon Valley venture capitalists, who have applauded the Obama administration’s science, energy and health care initiatives, are growing increasingly anxious that the president and Congress will subject their industry to both closer scrutiny and higher taxation”
What’s that about reaping what one sows?
LOL! Snakes.
SillyCON Valley Vulture Capitalists.
But but but they all love Al Gore and Obama.
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That statement reveals the weakness in the system. People believe what a politician says rather than looking at his background, education and experience. In Obama’s case a cursory look at his legislative experience in Illinois and WDC, employment prior to, his friends and associates and any person with a reasonable amount of everyday smarts can quickly tell he is not the person he says (or said) he is.
I want to hear it in far less equivocal terms.
For ten points, I want to hear “We made a giant mistake voting for this guy”.
Or, for about seven points, “We liked the idea of windmills and carbon credits but now that it seems like a war on business, we’re having second thoughts.”
For utterly zero points, “We are wondering when the stimulus package might affect those sectors of the economy we work in.
but he’s just SO COOOL
and he’s just SO SMART
don’t worry, he’ll turn around
and if not, Al Gore can run in 2012!
So the One Big Ass Mistake America is starting to play in the Idiots’ sandboxes and they don’t want to share. BoooFreakinHoo Idiots. You knowingly voted for the One Big Ass Mistake America and now you have to pay big time.
i guess sandy road will move to a better location... the bahamas or the caymans. (0% tax works for me)
or they could move to douglas on the isle of mann (moderate enough and only 10% tax)
either way i’m fairly certain the ‘evil rich’ don’t want to pay the 80%+ 0bama is warming up for them.
Ha!
So the disillusionment of the useful idiots begins.
How dare they call these pasty little geeks capitalists. They’re babes in the woods about to be devoured by the wolves on the left.
Can’t say I feel for them. They voted for the Kenyan.
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