Posted on 08/01/2007 2:32:06 PM PDT by lowbridge
Republican lawmakers charged yesterday that Sen. Charles Schumer is sabotaging a new effort to raise taxes on wealthy hedge-fund managers in an effort to shake down Wall Street for millions of dollars in campaign cash.
The criticism came after Schumer slammed legislation during a Senate Finance Committee hearing that would more than double the tax rates paid by managers of equity funds, hedge funds and other partnerships to make them pay the same rates as ordinary Americans.
The managers are able to avoid millions worth of taxes by "carrying over" profit on the sale of companies and treating their earnings from consulting services as capital gains taxed at 15 percent - rather than ordinary income taxed at up to 35 percent.
As chairman of the Democratic Senatorial Campaign Committee, Schumer raised more than $1 million from the industry for his party's campaign war chest.
Several Republicans suggested a "deal" was in the works, whereby powerful Democratic lawmakers would first threaten a big tax hike, but then Schumer would use his influence on the Finance Committee to negotiate a lower tax increase - and do a big favor to the industry.
(Excerpt) Read more at nypost.com ...
bump
The other disgrace from NY State!
Schumer a schemer? Shocking.
Hey Schmucky, how about a Carbon Tax for all of the flatulence that comes out of your mouth?
How can NY elect these people to the Senate?
Hey wait a minute, what am I talking about, I’ve got to contend with Boxer and Feinstein!
The schlepper, Chucky Cheese Schumer. There`s not a press conference this schmuck will not lug around. This guy if you can believe it once had a press conference at the Hess gas station on 10th avenue and 45th street, I kid you not. I pulled in there last December to take a whizz and there he was in all his glory with the press with the bathrooms right behind him. I assume the press conference was about gas prices, but on the other hand maybe not. Maybe he was agreeing with professional hypocrite Sheryl Crow that everyone use one square piece of toilet paper and of course he had to call a press conference about this.
“How can NY elect these people to the Senate?”
You tell me, I gotta put up with the likes of idiots like this not to mention her Hellness, Hellary. I think this whole east coast has some kind of idiocy plague in the water. Every few months without fail another story comes out about corruption from the Rats, yet the idiots in this state constantly overwhelmingly always vote Rat no matter what. And don`t even get me started about New Jersey. To them, their idea of a great governor is a fruit who passes the time butt slamming in a truck stop bathroom then congratulating him on a book deal or praising a Mayor who enriches and supports his ho`s on the taxpayer dime. But I shouldn`t talk. Now we got a Rat as Governor who thinks state police exist for spying.
I can’t wait to start reading these articles in the Wall Street Journal. Hehehehehe...
I disassociate myself entirely from your specific characterization of Schumer: I was referring only to his reputation for self-interested political shenanigans, not to his ethnicity or religion.
What's that supposed to mean?
Slow torture is too good for this piece of garbage. I ponder the IQ of the voters that put this incompetent bumpkin in office.
Whats a spillchucker?
and Mass ... Kennedy & Kerry LOL
It’s an antique derogatory slur for “Jew”.
Doesn’t Hillary Jr. work for one of those funds and Clintanoid Terry McAwful do the same? Explains a lot.
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