Rep. Camp proposes derivatives taxes linked to mark-to-market

01/25/2013 | Bloomberg · Reuters · Hill, The · Wall Street Journal, The

Republican Rep. Dave Camp, chairman of the House Ways and Means Committee, wants to replace the complex system for taxing derivatives with a much simpler one. His idea immediately brought objections from the financial industry. Camp proposed that taxpayers holding derivatives mark their contracts to the market annually and pay taxes on any gains at the rate for ordinary income.

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Bloomberg · Reuters · Hill, The · Wall Street Journal, The

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