# kaal:claim:2714974-017

**Claim.** If Congress changes the tax treatment of carried interest, returns to hedge fund advisers and their investors are likely to fall markedly and the popularity of hedge funds will be severely tested.

**Type.** predictive  **Support.** argued

**Holds when.**

- conditional on congressional elimination of the carried interest loophole

**Source quote.**

> Should Congress change the tax treatment of hedge fund managers, the returns to hedge fund advisers and their investors are likely to fall markedly.

**From.** Kaal and Oesterle, *The History of Hedge Fund Regulation in the United States* (2016), Taxation of Hedge Funds, page 16

**Cite as.** Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974

**Verify.** sha256 of source PDF `7764601d3ed5bb056b58949e8411eff9dfb9855f143719062030c980c5fa801b` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Oesterle%20-%202016%20-%20The%20History%20of%20Hedge%20Fund%20Regulation%20in%20the%20United%20States.pdf

**Topics.** institutional-design

**Keywords.** carried-interest, taxation, fund-returns, legislative-reform

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