Punitive tax policy targeting hedge funds threatens middle class, retirees

Hedge funds deliver for some of Arizona’s most vulnerable. The returns hedge funds provide for retirees, students, charities, and foundations are essential to supporting Arizonans’ livelihoods. In an op-ed for the Scottsdale Independent, Suzanne Klapp, former Scottsdale City Council Member, details the positive effects hedge funds have in Arizona. Key excerpts can be found below.

“In the United States, pensions invest approximately $790 billion in hedge funds to support retirement security. Please consider that overreaction and overregulation of hedge funds can have long term devastating effect on millions of hard-working Americans who are investing for a secure retirement.”

“Based on an unfortunate and highly publicized event earlier this year involving a hedge fund, some congressional members are grandstanding about the entire system of investing through hedge funds without considering the long term effect from additional regulation and taxation on many middle class citizens and families that rely on pension investments in hedge funds for sound financial reasons.”