The capitalist pigs are mounting a campaign to keep their obscene incomes taxed at 15% instead of the top rate normal people pay, 35%.
KKR, Blackstone, After Tax-Fight Progress, Enlist `Grasstops'
By Ryan J. Donmoyer and Jason Kelly
Aug. 31 (Bloomberg) -- Blackstone Group LP and Kohlberg Kravis Roberts & Co. are gaining support in Congress in their battle against a tax increase on private-equity firms and are looking to the heartland to win the war, the industry's chief Washington spokesman said.
``Things look better now than they did two or three months ago,'' said Doug Lowenstein, president of the Private Equity Council, of which Blackstone and KKR are founding members. ``We've stabilized the situation.''
Eleven buyout firms, among them Blackstone, KKR, the Carlyle Group, Apollo Management LP, Bain Capital LLC, and Madison Dearborn Partners LLC, created the council in December.
The council has funded research to buttress its argument that higher taxes would hurt the economy, and encouraged the industry to more than quintuple its donations to lawmakers' re- election campaigns, including $1 million to Senate Democrats in June.
Friday, August 31, 2007
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