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Townhall Finance
Six Astounding
Examples of Left-Wing Hypocrisy
Daniel J. Mitchell
Jul 19, 2014
Last month, I nailed Bill and Hillary Clinton for their gross hypocrisy
on the death tax.
But that’s just one example. Today, we’re going to experience a
festival of statist hypocrisy. We have six different nauseating
examples of political elitists wanting to subject ordinary people to
bad policy while self-exempting themselves from similar burdens.
Our first three examples are from the world of taxation.
Here are some excerpts from a Washington Times report about a
billionaire donor who is bankrolling candidates who support higher
taxes, even though he structured his hedge fund in low-tax
jurisdictions specifically to minimize the fiscal burdens of his
clients.
Tom Steyer, the billionaire environmental activist who is spending $100
million to help elect Democrats this fall, is rallying support for
energy taxes that could impact everyday Americans. But when he ran his
own hedge fund, Mr. Steyer sought to help wealthy clients legally avoid
paying taxes, confidential investor memos show. Mr. Steyer’s strategy
included establishing funds in tax havens like the Cayman Islands and
Mauritius… Mr. Steyer boasted to investors such as major universities
that his hedge fund, Farallon Capital Management LLC, had a “desire not
to earn income which would be taxable to our tax-exempt investors,” one
internal memo reviewed by The Washington Times showed. Mr. Steyer also
helped his firm’s wealthy clientele avoid the highest of U.S. taxes and
penalties by establishing arcane tax shelters… Mr. Steyer is pushing
for a variety of new taxes on the energy sector. In California, Mr.
Steyer supports an oil extraction tax, and he is funding politicians
who support taxing carbon, including Sen. Mark Udall, Colorado Democrat.
By the way, Steyer did nothing wrong, just as Mitt Romney did nothing
wrong when he utilized so-called tax havens to manage and protect his
investments...
Read the rest of the article at Townhall Finance
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