Dems Split on Bill Affecting Backers (and another SHAME on Shumer!)

Democrats Split Over Bill Affecting Backers
Tax Measure Targets Hedge Funds
By Jonathan Weisman
Washington Post Staff Writer
Wednesday, November 7, 2007; Page A01



In early June, as the Senate Finance Committee began examining how a new breed of Wall Street titan could be paying a special low tax rate on executives' salaries, one of the richest of them, hedge fund manager Steven A. Cohen of SAC Capital Advisors, cut the Democratic Senatorial Campaign Committee a check for $28,500.

Just days later, with DSCC Chairman Charles E. Schumer (D-N.Y.) equivocating on legislation to raise taxes on publicly traded equity firms, hedge fund giant James H. Simons, who earned $1.7 billion last year at his Renaissance Technologies LLC, donated another $28,500 to the DSCC.

By late July, Schumer was off the fence -- and on the side of the hedge funds and private-equity firms in opposing the Democratic legislation.

Later this week, Democrats will face more scrutiny over that choice. The House is to vote on a bill to stave off growth of the alternative minimum tax for a year, offer new tax breaks to middle-class homeowners and expand tax rebates for low-income parents -- paid for largely by nearly $50 billion in tax increases on the burgeoning hedge fund and private-equity industries.

The measure has deeply divided Democrats, pitting a rank and file that has railed for years against inequities in the tax code against the party's money men, who are reluctant to bite the hand that has generously fed them. Hanging in the balance is the AMT, enacted in 1969 to ensure that the wealthiest Americans pay at least some taxes. Instead, it has increasingly affected middle-class taxpayers.

-snip

http://www.washingtonpost.com/wp-dyn/content/article/2007/11/06/AR2007110602313.html?nav=rss_politics

is NOT Alfonse D'Amato. With that said, Charles Schumer (Whore-Wall Street) is a POS. He is one of the key people f-ing up the Democratic party.


:argh:

only good thing about fuckchuck when I voted for him in '98 when I just got to New YOrk!

Boy Howdy.. have I, among many many others, been screwed with our NY senators.

I've been sayin'..follow the money on chuckles on why he acts the way he does.

determine who he works to protect in the Dem powerstructure.

Schumer is the watercarrier for powerstructure whose more famous names cannot be attached to the battles Schumer mounts for them.

Plutocrats.

It really doesn't matter which party is in power if the leadership of that party can be bought by the rich and powerful.

We, the people, do not count anymore.

anymore..we have them right where we want them. ;)

for corporate interest. Shame on all of them. We need to re-build the party.

for themselves through the corporate interests and are wolves in sheep's clothing..actually worse than a fucking repuke.

Can't you see that sly ol' wolf grin on schumer's face?

up next, Chucky