Victor Fleischer is a professor of law at University of California, Irvine School of Law known for raising awareness of the carried interest tax loophole.


Fleischer grew up in
Buffalo, New York Buffalo is the second-largest city in the U.S. state of New York (behind only New York City) and the seat of Erie County. It is at the eastern end of Lake Erie, at the head of the Niagara River, and is across the Canadian border from Southe ...
, the son of now retired academics, and earned a B.A. from Columbia College in 1993 and a J.D. from
Columbia Law School Columbia Law School (Columbia Law or CLS) is the law school of Columbia University, a private Ivy League university in New York City. Columbia Law is widely regarded as one of the most prestigious law schools in the world and has always ranked i ...
in 1996. He worked at Davis Polk & Wardwell and clerked for the U.S. Court of Appeals for the Fourth Circuit and
Ninth Circuit The United States Court of Appeals for the Ninth Circuit (in case citations, 9th Cir.) is the U.S. federal court of appeals that has appellate jurisdiction over the U.S. district courts in the following federal judicial districts: * District ...
before entering academia in 2001. He taught at the UCLA School of Law, University of Illinois College of Law, University of Colorado Law School, the University of San Diego School of Law, chairing the law school's tax programs, before joining the University of California, Irvine School of Law in 2018. His research has focused on the fields of tax policy and corporate tax. Fleischer was known for his 2006 article, which highlighted the inequity of the tax treatment whereby private equity firms would classify the money it makes from on the future profits of their deals, also known as "carried interest," as capital gains, rather than as ordinary income, thereby paying a long-term capital gains tax rate that s 17 percentage points lower than the federal income tax rate. He argued that the loophole could cost the government as much as $130 billion over the next decade and said that the
private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a typ ...
industry should pay higher taxes, urging the U.S. government to fix the tax loophole. He was credited for popularizing the concept and turning into a political cause. In 2016, Fleischer joined the United States Senate Committee on Finance staff as the co-chief tax counsel to the Democratic Party and served in that position until 2017.

Personal life

Fleischer is married to Miranda Perry Fleischer, a professor of tax law at the University of San Diego.


{{DEFAULTSORT:Fleischer, Victor Living people Columbia College (New York) alumni Columbia Law School alumni University of San Diego faculty University of Illinois faculty University of California, Irvine faculty Davis Polk & Wardwell lawyers American legal scholars University of Colorado Law School faculty UCLA School of Law faculty Year of birth missing (living people)