Friday, 19 December 2014
Last updated 14 hours ago
Feb 20 2008 | 1:22pm ET
Hedge funds may be funding much of her campaign and footing her daughter’s bills, but Sen. Hillary Clinton still finds fault.
Suggesting that hedge fund managers and Wall Street executives don’t work as hard as the common man, the Democratic presidential candidate—who has now lost nine consecutive primaries and caucuses to rival Sen. Barack Obama—took her message of tax fairness to Ohio, where she hopes a strong showing in that crucial state’s March 4 primary will reignite her campaign.
“We also have to reward work more, and by that, I mean, I have people in New York working on Wall Street as investment managers, as hedge fund executives,” Clinton said at a restaurant in Parma, Ohio, yesterday. “Under the tax code, they can pay a lower percentage of their income in taxes on $50 million, than a teacher, or a nurse, or a truck driver in Parma pays on $50,000. That’s very discouraging to people.”
Clinton’s daughter, Chelsea, works at hedge fund Avenue Capital Partners.
“You just feel like, ‘wait a minute, I’m working as hard as I can,’” she said. “All those people you see in your law office, they’re working as hard as they can and they feel like they’re just getting further and further behind.”
Clinton has supported efforts in Congress to more than double the amount hedge fund and private equity managers pay in income taxes.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.