April 22, 2010 3:36PM 

# Angel Investors 

By [Chris Edwards](https://www.cato.org/people/chris-edwards) 

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The *Wall Street Journal* has an [important editorial today ](http://online.wsj.com/article/SB10001424052748704671904575194483171910348.html?mod=rss_opinion_main&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fxml%2Frss%2F3_7041+(WSJ.com%3A+Opinion))on how the financial “reform” bill being considered by Congress could help kill the angel investment industry in the United States.

Burying angels under new regulations would be part of a one-two knock-out blow for this group of more than 300,000 higher-income Americans who invest directly into start-up companies. The Obama administration’s tax-increase policies would be the other blow, as [I testified to the Senate earlier this year](https://www.cato.org/testimony/ct-ce-20100223.html).

Angels have played a crucial role in America’s dynamic job-creating economy over the decades. Policymakers would be absolutely crackers to screw up such a successful part of our innovation economy.

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[General](https://www.cato.org/general), [Government and Politics](https://www.cato.org/government-politics) 

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