Taxing VCs' Carry as Income Won't Shift Behavior

To me the important question in the debate over whether or not VCs "carry" should be taxed as income rather than capital gains is "will increasing taxation levels change VC behavior?" The answer to this question is clearly no because there is no other industry that provides the same lifestyle to compensation ratio that venture capital does. But hey, I grip about paying my taxes also, so who can blame VCs for trying to protect their loophole.