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    Repiglican Roast

    A spirited discussion of public policy and current issues

    Location: The mouth of being

    I'm furious about my squandered nation.

    Monday, October 15, 2007

    Ought oh. Same Wealthy Pigs who supported Chimperor and Bill Clinton want Hilliary for pres. Not good news for America

    For hedge-fund managers, maxing out to multiple candidates is a cheap hedge. And plenty of well-known business leaders are sticking with Republicans. Ebay CEO Meg Whitman was the finance co-chair for Mitt Romney's exploratory committee.

    But it's not just the ultra-rich who are abandoning Republicans. CNN's exit poll last fall showed that voters in the East making between $150,000 and $200,000 favored Democratic candidates by a 63-37 majority. Since 2004, the percentage of professionals identifying themselves as Republicans fell from 44 percent to 37 percent, according to a September Wall Street Journal/NBC News poll. The same survey found 59 percent of Republican voters agreed with the statement that free trade has been a negative for the country.

    Things have clearly changed. But you wouldn't know it from the campaigns—on either side. In last week's Republican economic debate, the leading candidates sang loudly from the GOP hymnal: hailing income inequality as a wonderful product of the free market, and blaming economic woes on lawyers and Democrats.

    With the exception of John Edwards, the Democratic candidates and their congressional allies have been loath to embrace measures that would alienate their new friends. The trial balloon floated earlier this month to enact a war income surtax, which would weigh heavily on high earners, was swiftly shot down. Closing the loophole that allows private-equity and hedge-fund managers to pay low long-term capital-gains taxes on the compensation they get for managing other people's money would be a popular way to pay for Democratic priorities. But last week Senate Majority Leader Harry Reid told private-equity lobbyists that Congress would move no such legislation this year.


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