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News :: Social Welfare
An Unjustified Privilege: PAUL KRUGMAN; D.C. Madam, CINDY SHEEHAN - Listen Live
13 Jul 2007
KRUGMAN: Treating the income of fund managers differently from the way we treat the income of everyone else who works makes no sense.

THE COMPLETE ARTICLE AND MORE
OP-ED COLUMNIST
An Unjustified Privilege
By PAUL KRUGMAN
Published: July 13, 2007

During the 2000 presidential campaign, Ralph Nader mocked politicians of both parties as “Republicrats,” equally subservient to corporations and the wealthy. It was nonsense, of course: the modern G.O.P. is so devoted to the cause of making the rich richer that it makes even the most business-friendly Democrats look like F.D.R.

But right now, as I watch Senate Democrats waffle over what should be a clear issue of justice and sound tax policy — namely, whether managers of private equity funds and hedge funds should be subject to the same taxes as ordinary working Americans — I’m starting to feel that Mr. Nader wasn’t all wrong.

What’s at stake here is a proposal by House Democrats to tax “carried interest” as regular income. This would close a tax loophole that is complicated in detail, but basically lets fund managers take a large part of the fees they earn for handling other peoples’ money and redefine those fees, for tax purposes, as capital gains.

--MORE--
http://mparent7777-2.blogspot.com/2007/07/unjustified-privilege-paul-kru

Posted by CRIMES AND CORRUPTION OF THE NEW WORLD ORDER NEWS mparent7777 Marc Parent CCNWON at 5:06 AM

Labels: economy, hedge funds, INCO, Markets, New York Times, News, PAUL KRUGMAN, Politics, Stock Market, taxes



D.C. Madam, CINDY SHEEHAN - Listen Live
http://mparent7777-2.blogspot.com/2007/07/dc-madam-cindy-sheehan-listen-



CRIMES AND CORRUPTIONS OF THE NEW WORLD ORDER NEWSWIRE - JULY 12, 2007
http://mparent7777-2.blogspot.com/2007/07/crimes-and-corruptions-of-new-



AND MORE
http://mparent7777-2.blogspot.com/
http://www.wakeupfromyourslumber.com/blog/38
See also:
http://mparent7777-2.blogspot.com/
http://www.wakeupfromyourslumber.com/blog/38

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