[FoRK] "Buyout Billionaires' Recession-Proof Secrets Revealed"

[Jeff Bone]

Amusingly / infuriatingly, I *just* received this:

--

Dear Jeff,

How is it possible for us to be entering a recession while buyout  
billionaires like Henry Kravis saved $96 million through tax loopholes  
in 2006 alone? That's just one buyout billionaire, in one year, making  
use of one loophole! Just think how much these private equity crooks  
are costing taxpayers who are already battling financial hardships and  
home foreclosures.

Our earlier War on Greed films garnered over 350,000 views and a lot  
of attention from The New York Times, The New Yorker, and The New York  
Post, not to mention the Private Equity Council. Such wonderful  
feedback made us realize that now is a crucial time to connect the  
dots between buyout billionaires and everyday Americans suffering  
through this recession. And in talking with many of you, we thought a  
short, animated video could be a great means of conveying the gross  
misconduct of Henry Kravis, KKR, and the policies of buyout  
exploiters. So Paris, Lee Stranahan, and the team went to work to  
bring you our first animated video.

Watch the video: http://bravenewfilms.org/watch/3178626/37890?utm_source=rgemail

Now for the serious part. Join over 18,000 people who have already  
signed our petition demanding our presidential candidates close the  
Henry Kravis tax loophole. Then, please send this film along to ten  
people. Make sure Larry the Loophole is seen by friends, relatives,  
and schoolmates through Digg, Facebook, MySpace-the works! We already  
started spreading our message yesterday outside the Waldorf-Astoria  
Hotel in New York, when we joined the SEIU to present Kravis with the  
"Loophole of the Year" Award.



--



This thinly-disguised piece of anti-capitalist propaganda disguised as  
a School House Rock clip is such a complete hash I won't even bother  
to debug its errors.  It completely confuses the activities of raiders  
(whose activities, arguably, might be considered less than wholesome)  
vs. regular PE guys and others, and somehow claims that when certain  
folks pay the same cap gains rate anyone else would pay on long-term  
investment activity, they're being "greedy" and using "loopholes."  I  
really have no idea how a fundamental part of our tax structure that  
impacts *everyone* is regarded as a "loophole," or why "greed" is a  
measure of outcome rather than intent.



I have previously supported some of Brave New Films' efforts.  I sure  
as shit won't be anymore!



Nb.:  so-called "War on Greed" an extremely pathogenic meme.  Growing  
increasingly concerned about this...





jb