Charles Pierce, author of Idiot America and one of the most pungently funny people in the world, is now scribing for Esquire, and he has a great blog post up on how some Congressional Dems are going weak-kneeded at the thought of those hedge-fund managers cutting off the campaign donations if they can’t keep their carried interest loophole, which allows them to count their income as capital gains and so pay taxes at a significantly lower rate than most individuals.
More than anything else, this tax break symbolizes perfectly the forces behind the ruination of responsible government and of a viable economy. This thing couldn’t represent GREED more perfectly if it were drawn up by Thomas Nast. It is a perfect campaign issue for any Democratic party truly interested in economic justice. Andrew Jackson could run against it.
Read the whole thing: Tax loophole nonsense
Thanx to Susie Madrack for pointing Charlie’s piece out!