Edwards the first candidate to support bill to increase taxes on fund managers

[draft_mario_cuomo]

Once again John Edwards is leading on an issue...

==DES MOINES, Iowa --
Democratic presidential candidate John Edwards embraced the idea of raising taxes on the managers of private-equity firms and hedge funds.

Edwards, who has made economic fairness a central issue of his campaign for the Democratic nomination, said he would announce within 10 days his position on a House bill that would force fund managers to pay taxes as high as 35 percent on their share of profits instead of the 15 percent capital-gains rate most pay now.

"It's not a big secret that I believe there's some unfairness in the tax code, and I think some of that unfairness applies to hedge funds and hedge-fund managers," Edwards, a former senator from North Carolina, said in an interview with Bloomberg Television's "Political Capital with Al Hunt," scheduled to air Thursday.

Edwards, 54, who has worked for New York-based hedge fund firm Fortress Financial Group, is the first Democrat running for president to signal support for the legislation. Among Republicans, former New York Mayor Rudy Giuliani has said he opposes raising the managers' taxes. -- Bloomberg News==

http://www.charlotte.com/politics/story/186819.html

[ShortnFiery]

1. Excellent Position. Edwards walks the walk of a true Populist.

:thumbsup: :hi:

[maximusveritas]

2. Actually Obama said he was inclined to support it almost a month ago

Looks like Bloomberg got its facts wrong again. Can't say I'm surprised.

[jsamuel]

3. saying one is "inclined" to support something is a far cry from what Edwards just did

Obama says he is inclined to do all sorts of things, but we really don't know what he is going to do till he finally comes up with plans.

[maximusveritas]

4. No its not. It's almost exactly the same

I realize you're trying to spin for your candidate, but try to be reasonable here.
Edwards didn't say he supported the legislation. He said he'd say so in 10 days.
Both candidates clearly support the idea of correcting this unfairness in the tax system. The issue is whether this legislation does that. You have to read and study the bill fully before supporting it. They are both clearly doing that.

[jsamuel]

8. They are not the same. you are spinning like a dryer

end

[ShortnFiery]

5. Hey! I am equally drawn to both Obama and Edwards ... let's not burn all our bridges.

because an Edwards/Obama or an Obama/Edwards ticket, IMO, would be equally AWESOME? :patriot: :hi:

[jillan]

6. What???

Isn't that where he made a ton of his money???

[draft_mario_cuomo]

7. Which candidate is the darling of hedge funds?

A few hints: 1) the candidate is not named Clinton 2) the candidate is not named Edwards

[slick8790]

9. I think so.

Does that make it bad that he opposes it? I think regardless of the candidates past, this is a good thing. especially when someone like john edwards, who has the potential to make so much more in hedge funds. you don't have to be poor to support them.