The U.S. won’t put a dent into poverty and income inequity unless Democrats and Republicans can agree to raise taxes on top earners like hedge-fund and private equity managers, President Barack Obama said Tuesday. Obama, whose longstanding proposal to raise taxes on what is known as carried interest has gained little traction in Congress, said fairness demands that the nation’s wealthiest pitch in as more and more Americans are falling behind. “If I were able to close that loophole, I’d be able to invest in early childhood education,” Obama said at a poverty summit at Georgetown University in Washington. “If we can’t ask from society’s lottery winners to make that modest investment, then really this conversation is for show.” [Bloomberg]
(Another) Area Money Manager Feels Like A Jew In Europe Circa 1939
You have no idea how bad it is.
Area Hedge Fund Manager Takes President's Breath Away
From the front lines: From: Whitney Tilson Sent: Wednesday, April 11, 2012 11:20 AM Subject: My column: "A millionaire for higher taxes" In DC, just chatted with Obama and stood behind him at his press conference re the Buffett rule. Just published the column below on the Washington Post web site. As I shook his hand beforehand, I said, "Hi Mr. President, I'm Whitney Tilson of Democrats for Education Reform. We were early supporters of yours and I just wanted to thank you and Arne Duncan for the incredible work you're doing." His eyes lit up and he said, "I remember your early support. We're making progress but we still have a lot of work to do." I said, "We'll keep fighting for you" as he was hustled out of the room to start the press conference.
Ginormous Tax Savings Just A Happy Byproduct Of David Tepper's Move To Florida
So that's nice for him.