In a CNBC Exclusive, New Jersey's Governor Jon Corzine talks about hedge funds in an interview with NBC's Matt Lauer on CNBC's "Squawk Box."
DATE: Monday, May 7th
NETWORK: CNBC
PROGRAM: "Squawk Box"
TIME: 8:55 am ET
Transcript below. All references must be sourced to CNBC.
BECKY QUICK: MORE NOW FROM NEW JERSEY GOVERNOR JON CORZINE. HE IS BACK TO WORK FOR THE FIRST TIME SINCE THE CAR ACCIDENT THAT ALMOST TOOK HIS LIFE LAST MONTH. THE GOVERNOR SPOKE EXCLUSIVELY WITH THE TODAY'S SHOW MATT LAUER HERE'S SOME OF THAT INTERVIEW.
MATT LAUER: DEMOCRATS IN CONGRESS ARE CONSIDERING RAISING TAXES ON HEDGE FUND MANAGERS AND PRIVATE EQUITY PEOPLE AND TAXING THEM AT A RATE NOT FOR CAPITAL GAINS, BUT FOR INCOME TAX. EARNED INCOME. WHICH WOULD BE A BIG DIFFERENCE.
GOVERNOR CORZINE: RIGHT. A BIG DIFFERENCE.
LAUER: DO YOU THINK IT'S A GOOD THING, OR DO YOU THINK IT WILL DERAIL THE HEDGE FUND BOOM AND PERHAPS MAKE AMERICA LESS COMPETITIVE?
CORZINE: FIRST OF ALL, IT WON'T DERAIL THE HEDGE FUND BOOM BECAUSE MANY OF THEM WILL GO OFFSHORE AND WILL AVOID THE U.S. TAXATION.
BECKY: GOVERNOR CORZINE RESUMES HIS DUTIES AS WE SPEAK. HE SAYS THE DECISION TO GET BACK TO WORK WAS MADE AFTER HE SPOKE FRIDAY WITH DOCTORS AND LAWYERS.
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