Monday, November 28, 2011

Taxes are for goys: Jewish billionaire who believes it's Nazism to ask Jews to pay taxes will hold fundraiser for Romney

Billionaire Investor Who Compared Taxing The Rich To Nazi Invasions Will Hold Fundraiser For Romney

(ThinkProgress) -- by Pat Garofalo --

Last summer, mega-investor and Blackstone CEO Stephen Schwarzman — who has a net worth of about $4.7 billion, according to Forbes — said Democratic efforts to close a pernicious tax provision known as the carried interest loophole was akin to Nazi invasions during World War II. “It’s a war,” Schwarzman said. “It’s like when Hitler invaded Poland in 1939.”

This particular loophole lets private equity executives and hedge fund managers, who are some of the wealthiest people on the planet, pay exceedingly low tax rates. As billionaire investor Warren Buffet explained, “Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as ‘carried interest,’ thereby getting a bargain 15 percent tax rate.”

And it seems that Schwarzman has found his man in the 2012 election: the former private equity executive Mitt Romney:
Stephen Schwarzman, chairman of the world’s largest private-equity firm, will host a fundraiser for Mitt Romney at his Park Avenue apartment next month, a sign that Romney is closing the sale with Wall Street’s wealthiest donors.

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