Sorry for back to back posts, but I couldn't resist posting this up. This is my point exactly. There is a Wall Street Journal acticle in Monday's paper about how John Edwards, a person who is desperate at this point to stay in the race for the democratic nomination to run for president that is currently being ran away with between Obama and Clinton, came forward today supporting a bill to increase taxes on publically traded private-equity partnerships.
Here is one paragraph from the Journal:
"Mr. Edwards, campaigning in New Hampshire, said in an interview that he supports the so-called Blackstone bill levying corporate taxes on publicly traded private-equity partnerships, a move to tax hedge-fund managers' "carried interest" at ordinary income rather than the lower capital-gains rates, and eliminating the ability of those managers to defer taxation by shifting income into offshore entities. Taken together, the former North Carolina senator asserted, these steps would raise $4 billion to $6 billion a year."
Here is a politician going after those nasty corporate people right. Well, here is another interesting point that many of us already know about Mr. Edwards.
As mentioned in the Wall Street Journal article:
"Mr. Edwards's stance could help shore up his populist credentials after criticism of his personal wealth and lifestyle have eroded his poll standings. While making amelioration of poverty a centerpiece of his campaign, the one-time trial lawyer earlier this year reported that he had received $1.7 million in salary and investment income from Fortress, where his holdings total $16 million."
Fortress is one of these Hedge Funds Mr. Edwards is going after. This is laughable. Edwards is doing what all politicians do, he is saying whatever it takes to try to get elected. His stance is not based on fact at all, it is simply based on the fact that he needs to "shore up his populist credentials after criticism of his personal wealth and lifestyle have eroded his poll standings". This is my point exactly. Many "Populist" won't even know that Edwards was a consultant to one of these nasty hedge funds, held over $16 million with that nasty hedge fund, and was actually paid an additional $1.7 million in salary from one of these nasty hedge funds. All they will know is that hedge fund is a nasty monster, and Mr. Edwards will protect you from them as long as you vote for him.
Yes, this happens to be a Democrat. But don't think they are the only ones who do this. Politicians do this all the time. Republicans, Democrates, and Independents.
:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:: rotfl::rotfl::rotfl::rotfl:
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