RUSH: Obama Mentions ‘Carried Interest’… ‘Hedge Fund Guys Aren’t Gonna Like It’

RUSH: I wondered how many of you remembered this discussion that we’ve had and the differences between asset wealth and income wealth, and there’s gonna be less and less income wealth as income taxes rise. The greatest enemy to the accrual of wealth, or the accumulation of wealth, the greatest enemy is the progressive income tax. The more you earn, the higher your tax rate, the less you keep, the longer it’s gonna take to get wealthy, and that’s by design. But the asset wealthy are untouched. So when Obama mentioned carried interest, that was something new, and the hedge fund guys aren’t gonna like it, and the Buffetts and those guys aren’t gonna like it. Now, whether he follows through on it is another matter, but he mentioned it.

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