People in the News


Hedgies to Obama: Raise my taxes

December 09, 2010   Lawrence Delevingne


Noblesse oblige makes a comeback.

Not all hedge fund managers are fighting to keep the Bush tax cuts for the rich. Michael Steinhardt, founder of Steinhardt Partners, signed an online pledge with other "patriotic millionaires for fiscal strength" to raise their own taxes. In an open letter to President Obama, Steinhardt and others urged the President to allow tax cuts on incomes over $1 million to expire at the end of 2010, as scheduled.

"During our nation’s moment of need, we are eager to do our fair share," the millionaires wrote. "We understand that cutting our taxes will increase the deficit and the debt burden carried by other taxpayers." Another hedgie speaking up is Thomas Steyer of Farallon Capital Management. In an emotional interview with Christiane Amanpour, he said that the wealthy have an obligation to give back.


Related Articles

Blog Archive


 

Planning for a high-income year due to 457A income? Download this short paper to find out more about the opportunity to reduce tax liability and have significant charitable impact..

Click here for more details.


Latest Poll

Will a Trump presidency be good for hedge funds?

 - 33%
 - 67%

View previous results