This is a slightly tricky one because I do think there is potential for the tax change to negatively impact funding available for startups.
However, the impact should be minimal and I agree with Fred Wilson that carried interest fees are not really that fundamentally different from other types of fees and thus standard income tax levels make sense.
If you want less of something, or don't care if you get less of it, you tax it.
Totally ignoring the fairness issue (it's certainly a debatable point), starting from this status quo how can you possibly believe this change will not cause harm?
About the only way I see for the medium to long term is that VC firms restructure, which might end up with a neutral or even better situation (Fred Wilson is hoping for the latter, but I didn't find his case very convincing).
But in the short term it's hard to see how it's going to be anything other than a mess not to mention a distraction from the real job.
Whatever makes him think VCs are going to take permanent cut in their income without reacting in one or more ways to mitigate it?
You can change the rules in the middle of the game, but to expect only one player to ignore that to his detriment is delusional.