Tax Notes is out with a new piece that makes the case for expanding the Net Investment Income Tax (NIIT). The article quotes exclusively from individuals who would like to see the tax applied to a broader base of income. Absent is anybody from the business community, which is uniformly opposed to these tax hikes.
Instead, the article comes across as an advocacy piece highlighting people long opposed to the pass-through structure as a whole. The article starts off:
President Biden has proposed addressing a long-perceived flaw with the net investment income tax, but as with his predecessors, political considerations …