Carol Platt Liebau: We have met the enemy, and he is us!

Tuesday, July 31, 2007

We have met the enemy, and he is us!

This is guest blogger Wile E Coyote.

The Wall Street Journal reported today that Democrats are rethinking their "soak the rich" tax on hedge funds. (

In addition to counting up the campaign donations received from the hedge fund community, Democrats are beginning to hear from pension funds (including unions), endowments and other assets managers how important hedge-fund activity is to returns.

There is a difference between making obscene wealth (hedge-fund managers) and making wealth obscenely (Madonna). I note that few so-called progressives ever try to combat obscene wealth creation the straightforward way -- offer the same quality good/service at a lower price. As for making wealth obscenely, should Madonna ever find herself too aged to gyrate in public unclothed, she can always go into politics.


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