Opportunity Missed
The Democratic Congress can be so lame some time. Can they pass a tax bill that would tax managers of buyout firms at the normal income rate (35%) instead of the capital gains rate (15%)? Can they manage to leverage an unbearably simple case for the tax hike, that the top 25 hedge fund managers make as much as all the CEOs of the S&P 500 combined and still pay a lower tax percentage than everyone else, into a bill that would get to the president’s desk? No, they can not. Just imagine the possibilities for political theater: Bush vetoes S-CHIP and a tax adjustment to make the richest people pay the same tax rates as everyone else, on the same day. I guess I can only dream…
