Hillary swipes at 'workshy' investment bankers. Like her daughter, for example

[Joe Republic]

Link


Real ‘Work’? Clinton Swipes at Chelsea’s Profession

February 19, 2008 4:48 PM


ABC News' Jennifer Parker and Eloise Harper Report: Sen. Hillary Clinton took a swipe at her daughter's profession today at an economic roundtable discussion at a restaurant in Parma, Ohio, suggesting wealthy investment bankers and hedge fund managers on Wall Street aren't doing real 'work.'

The former first lady's daughter, Chelsea Clinton, works for New York-based hedge fund Avenue Capital Group. She previously worked in New York for McKinsey & Company, her first job after graduating with her master's degree from Oxford University.

"We also have to reward work more," Clinton told a small group of Ohio residents today. "and by that, I mean, I have people in New York working on Wall Street as investment managers, as hedge fund executives. Under the tax code, they can pay a lower percentage of their income in taxes on $50 million dollars, than a teacher, or a nurse, or a truck driver in Parma pays on $50,000. That's very discouraging to people."

You just feel like, 'wait a minute. I'm working as hard as I can.' All those people you see in your law office. They're working as hard as they can and they feel like they're just getting further and further behind," Clinton said.

It's not the first time Clinton has taken a swipe against her daughter's profession. Campaigning in Wisconsin yesterday, Clinton railed against hedge funds as Chelsea sat off to the side.

"I saw a sign over here - someone has a t-shirt on, tax hedge fund dealers," Clinton said Monday, "well in this economy we are going to have a fair tax system again. A Wall Street investment manager, a hedge fund dealer, should not pay a lower percentage of taxes on his 50 million dollars worth of income.”

In 2006, Chelsea scolded her mother for telling an audience that young people "think work is a four-letter word." Clinton said daughter Chelsea called her to complain, arguing she does work hard and her friends work hard. Clinton later said she apologized to her daughter.

The line about investment fund and hedge fund managers has been introduced into Clinton's talking points as she campaigns across the economically struggling state of Ohio.  Clinton is focusing her campaign on the delegate-rich states of Ohio and Texas voting March 4.

[Filuwaúrdjan]

The former first lady's daughter, Chelsea Clinton, "works" for New York-based hedge fund Avenue Capital Group. She previously "worked" in New York for McKinsey & Company, her first "job" after graduating with her master's degree from Oxford University.

Fixed your post

[The Hack Hater]

One more proof that Hillary is  a completely wrong choice to be president.

[Хahar 🤔]

Her message made sense. She just put it across in the completely wrong way.

[Jacobtm]

Different jobs require different skill sets. That different forms of work are taxed differently is odd, if we're going to have a progressive income tax, it should tax capital gains just the same as wage-labor. Not that Hedge Fund managers should pay more than anyone else making the same amount of money, but they shouldn't be given special breaks because they make money a different way.

[politicaltipster]

I've actually worked in Investment Banks so I disagree that Investment Bankers are 'workshy'. After all, 70 hour weeks are the norm going up to 100+ in certain areas. I also don't agree with punitive taxation (i.e the 70% top rate that was common before Reagan).

I think the point that Hillary was trying to make was that certain HF managers are using a tax loophole to avoid paying income tax (declaring comission income as carried interest). That sort of tax dodging needs to be cracked down upon ASAP. I wouldn't object to rasing the top rate back to 39.6% as it was under Bill Clinton either.

[Gustaf]

Lol. Investment bankers have among the longest work-weeks of all employees. That doesn't mean you should feel sorry for them, given their pay, but they certainly work pretty hard.