Following the Nation's
recent tradition of misrepresenting Hillary Clinton's positions, Katrina Vanden Heuvel stepped in it again with this post:
Yesterday I posted on the good and quick responses of Barack Obama and John Edwards to Harry Reid's bad decision not to take on the obscenely inequitable tax loophole that allows private equity mega-billionaires to be taxed at 15 percent--less than most working Americans. But where's Hillary on this? As of today, there is still nothing on her website.
http://www.thenation.com/blogs/campaignmatters?bid=45&pid=241424One problem, Katrina. It IS on her website. Typical of the Nation staff lately, you just didn't look closely enough:
7/13/2007
Hillary Clinton Proposes Ending Unfair Tax Breaks for Wall Street Investment ManagersHillary Clinton today announced her support for cracking down on the tax loophole that allows some Wall Street investment managers to pay dramatically lower tax rates on their income than those paid by average working Americans. Current tax laws allow investment managers in certain partnerships to take large amounts of their compensation in the form of "carried interest," which is taxed at the low 15% capital gains rate, rather than at income tax rates as high as 35%. Many finance and tax experts, including billionaire financier Warren Buffett, have raised concerns that carried interest is essentially earned income. Therefore, it should be taxed as ordinary income, just like the earnings of average American workers.
http://www.hillaryclinton.com/news/release/view/?id=2396Sorry, Katrina. The Nation is busted again.
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