Attempts to tax carried interests as service income will have to be able to distinguish service income from other types of income, a taskthat has proven to be difficult and complex.

The proper treatment of carried interest depends upon a number of unresolved economic issues.

Earlier this year, an article by Victor Fleischer, a professor now at the University of Illinois College of Law, helped turn a technical aspect of partnership taxation into the most contentious tax policy issue of 2007. Members of Congress, the George W. Bush administration, the 2008 presidential candidates, academic commentators,...

A provision to increase the tax on carried interest is currently under consideration in Congress, but the effects of such a change should be examined in closer detail before it goes into effect.

Repealing the Patient Protection and Affordable Care Act will not be enough, for a simple reason: Although Obamacare would worsen many of the problems with our system of health-care financing, that system clearly does call out for serious reform.

Chile is the platform for Latin America to the rest of the world, both economically and politically.

The political economy of taxation offers important lessons for the developing world.

How to think about America's private equity industry--and about entrepreneurship and taxes.