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In Opposing Tax Plan, Schumer Breaks With Party
NY Times ^ | July 30, 2007 | RAYMOND HERNANDEZ and STEPHEN LABATON

Posted on 07/30/2007 12:02:54 AM PDT by neverdem

WASHINGTON, July 29 — June was a busy month for Senator Charles E. Schumer. On the phone, at large parties and small gatherings around the nation, he raised more than $1 million from the booming private equity and hedge fund industries for the Democratic Senatorial Campaign Committee, of which he is chairman.

But there is another way Mr. Schumer has been busy with hedge fund and private equity managers, an important part of his constituency in New York.

--snip--

From January through June, the Democratic Senatorial Campaign Committee raised nearly $2 million from executives and employees of private equity and hedge fund firms like the Carlyle Group and the Blackstone Group, according to analyses of campaign finance disclosure reports conducted by the Center for Responsive Politics, a nonpartisan group that researches the influence of money in politics, and by The New York Times. The $2 million figure, which includes contributions from relatives of employees and executives, is a low-end estimate because many donors do not list their employers on financial disclosure reports.

Industry executives say they value the role Mr. Schumer plays. John G. Gaine, the president of the Managed Funds Association, the main hedge fund trade group, described the senator as a “critical figure in the debate” and a “guardian of America’s capital market and, more parochially, New York’s economic interest.”

Mr. Schumer says he is working on an alternative tax plan, the details of which he would not disclose. But in the interview he spoke approvingly of raising the tax rate on the wealthiest 1 percent of Americans — those earning more than $400,000 a year — to 40 percent from 35 percent. He added that Congress could also once again set the capital gains tax rate at 20 percent, raising it from the current 15 percent.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Politics/Elections
KEYWORDS: 110th; charleseschumer; democraticparty; hedgefunds; schumer

1 posted on 07/30/2007 12:02:55 AM PDT by neverdem
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To: neverdem

One tax rate ... for all people and businesses.
Individuals get relief up to minimum wage
Businesses get relief for full time employees (40 hrs) if the business offers health care and retirement programs

Then we need to work on restricting Congress’s ability to spend.


2 posted on 07/30/2007 12:09:50 AM PDT by taxcontrol
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To: neverdem

Putzhead Schmuckie the tax hiker. I’m shocked.


3 posted on 07/30/2007 12:31:02 AM PDT by fieldmarshaldj (~~~Jihad Fever -- Catch It !~~~ (Backup tag: "Live Fred or Die"))
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To: neverdem

Mental masturbation, little more. No way GWB signs a tax hike.


4 posted on 07/30/2007 12:44:58 AM PDT by Southack (Media Bias means that Castro won't be punished for Cuban war crimes against Black Angolans in Africa)
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To: neverdem
Chuck Schumer wants to tax investments and capital gains. The man is a dolt.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

5 posted on 07/30/2007 1:02:13 AM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: goldstategop
Chuck Schumer wants to tax investments and capital gains. The man is a dolt.

Don't underestimate our enemies. IIRC, putzhead maxed the old SAT in the 1960s with a perfect score of 1600, according to the NY Times when I bought hard copies of it.

6 posted on 07/30/2007 1:42:31 AM PDT by neverdem (Call talk radio. We need a Constitutional Amendment for Congressional term limits. Let's Roll!)
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To: neverdem

Schumer: revolting in so many ways.


7 posted on 07/30/2007 1:43:08 AM PDT by Recovering_Democrat (I am SO glad to no longer be associated with the party of Dependence on Government!)
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To: goldstategop
Photo Sharing and Video Hosting at Photobucket

Never trust a guy who looks like he had a role in “Who Framed Roger Rabbit.”

Chucky seen here rehearsing for his new role in “Who Screwed the American People (Again!).”


8 posted on 07/30/2007 5:40:04 AM PDT by Dick Bachert ("The urge to save humanity is often a false front for the urge to rule." Mencken)
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To: neverdem

UpChuck, Hitlery, Osama Obama, the Breck Girl, et al are all vying to come up with a scheme that will destroy the US’s economic engine while they impose socialism on us.


9 posted on 07/30/2007 6:52:43 AM PDT by RightWingConspirator (uRT)
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