[FoRK] Obama disingenuousness

[Rob Harley]

>The bulk of that take was almost certainly
>taxed at a higher rate;  a part of it in the form of regular income
>taxed almost exclusively at the top rate and a larger part of it taxed
>at the highest short-term cap gains rate.

>the news is that most of the
>idiots who heard Barack probably think, as he intended them to, that
>those hedge fund managers paid the lowest possible blended tax rate.
>That just ain't so, [...]

Sigh.  It's rather well-known that many, especially in private equity,
do indeed pay the long-term capital gains rate on most of their US income.
Google for Baucus-Grassley bill e.g.,

http://www.nytimes.com/2007/06/15/business/15tax.html?ex=1339560000&en=e172e78517143e6c&ei=5090&partner=rssuserland&emc=rss