podesta_email_12299.txt

podesta-emails 1,260 words email

P17 P21 D1 V15 V11

-----BEGIN PGP PUBLIC KEY BLOCK----- mQQBBGBjDtIBH6DJa80zDBgR+VqlYGaXu5bEJg9HEgAtJeCLuThdhXfl5Zs32RyB I1QjIlttvngepHQozmglBDmi2FZ4S+wWhZv10bZCoyXPIPwwq6TylwPv8+buxuff B6tYil3VAB9XKGPyPjKrlXn1fz76VMpuTOs7OGYR8xDidw9EHfBvmb+sQyrU1FOW aPHxba5lK6hAo/KYFpTnimsmsz0Cvo1sZAV/EFIkfagiGTL2J/NhINfGPScpj8LB bYelVN/NU4c6Ws1ivWbfcGvqU4lymoJgJo/l9HiV6X2bdVyuB24O3xeyhTnD7laf epykwxODVfAt4qLC3J478MSSmTXS8zMumaQMNR1tUUYtHCJC0xAKbsFukzbfoRDv m2zFCCVxeYHvByxstuzg0SurlPyuiFiy2cENek5+W8Sjt95nEiQ4suBldswpz1Kv n71t7vd7zst49xxExB+tD+vmY7GXIds43Rb05dqksQuo2yCeuCbY5RBiMHX3d4nU 041jHBsv5wY24j0N6bpAsm/s0T0Mt7IO6UaN33I712oPlclTweYTAesW3jDpeQ7A ioi0CMjWZnRpUxorcFmzL/Cc/fPqgAtnAL5GIUuEOqUf8AlKmzsKcnKZ7L2d8mxG QqN16nlAiUuUpchQNMr+tAa1L5S1uK/fu6thVlSSk7KMQyJfVpwLy6068a1WmNj4 yxo9HaSeQNXh3cui+61qb9wlrkwlaiouw9+bpCmR0V8+XpWma/D/TEz9tg5vkfNo eG4t+FUQ7QgrrvIkDNFcRyTUO9cJHB+kcp2NgCcpCwan3wnuzKka9AWFAitpoAwx L6BX0L8kg/LzRPhkQnMOrj/tuu9hZrui4woqURhWLiYi2aZe7WCkuoqR/qMGP6qP EQRcvndTWkQo6K9BdCH4ZjRqcGbY1wFt/qgAxhi+uSo2IWiM1fRI4eRCGifpBtYK Dw44W9uPAu4cgVnAUzESEeW0bft5XXxAqpvyMBIdv3YqfVfOElZdKbteEu4YuOao FLpbk4ajCxO4Fzc9AugJ8iQOAoaekJWA7TjWJ6CbJe8w3thpznP0w6jNG8ZleZ6a jHckyGlx5wzQTRLVT5+wK6edFlxKmSd93jkLWWCbrc0Dsa39OkSTDmZPoZgKGRhp Yc0C4jePYreTGI6p7/H3AFv84o0fjHt5fn4GpT1Xgfg+1X/wmIv7iNQtljCjAqhD 6XN+QiOAYAloAym8lOm9zOoCDv1TSDpmeyeP0rNV95OozsmFAUaKSUcUFBUfq9FL uyr+rJZQw2DPfq2wE75PtOyJiZH7zljCh12fp5yrNx6L7HSqwwuG7vGO4f0ltYOZ dPKzaEhCOO7o108RexdNABEBAAG0Rldpa2lMZWFrcyBFZGl0b3JpYWwgT2ZmaWNl IEhpZ2ggU2VjdXJpdHkgQ29tbXVuaWNhdGlvbiBLZXkgKDIwMjEtMjAyNCmJBDEE EwEKACcFAmBjDtICGwMFCQWjmoAFCwkIBwMFFQoJCAsFFgIDAQACHgECF4AACgkQ nG3NFyg+RUzRbh+eMSKgMYOdoz70u4RKTvev4KyqCAlwji+1RomnW7qsAK+l1s6b ugOhOs8zYv2ZSy6lv5JgWITRZogvB69JP94+Juphol6LIImC9X3P/bcBLw7VCdNA mP0XQ4OlleLZWXUEW9EqR4QyM0RkPMoxXObfRgtGHKIkjZYXyGhUOd7MxRM8DBzN yieFf3CjZNADQnNBk/ZWRdJrpq8J1W0dNKI7IUW2yCyfdgnPAkX/lyIqw4ht5UxF VGrva3PoepPir0TeKP3M0BMxpsxYSVOdwcsnkMzMlQ7TOJlsEdtKQwxjV6a1vH+t k4TpR4aG8fS7ZtGzxcxPylhndiiRVwdYitr5nKeBP69aWH9uLcpIzplXm4DcusUc Bo8KHz+qlIjs03k8hRfqYhUGB96nK6TJ0xS7tN83WUFQXk29fWkXjQSp1Z5dNCcT sWQBTxWxwYyEI8iGErH2xnok3HTyMItdCGEVBBhGOs1uCHX3W3yW2CooWLC/8Pia qgss3V7m4SHSfl4pDeZJcAPiH3Fm00wlGUslVSziatXW3499f2QdSyNDw6Qc+chK hUFflmAaavtpTqXPk+Lzvtw5SSW+iRGmEQICKzD2chpy05mW5v6QUy+G29nchGDD rrfpId2Gy1VoyBx8FAto4+6BOWVijrOj9Boz7098huotDQgNoEnidvVdsqP+P1RR QJekr97idAV28i7iEOLd99d6qI5xRqc3/QsV+y2ZnnyKB10uQNVPLgUkQljqN0wP XmdVer+0X+aeTHUd1d64fcc6M0cpYefNNRCsTsgbnWD+x0rjS9RMo+Uosy41+IxJ 6qIBhNrMK6fEmQoZG3qTRPYYrDoaJdDJERN2E5yLxP2SPI0rWNjMSoPEA/gk5L91 m6bToM/0VkEJNJkpxU5fq5834s3PleW39ZdpI0HpBDGeEypo/t9oGDY3Pd7JrMOF zOTohxTyu4w2Ql7jgs+7KbO9PH0Fx5dTDmDq66jKIkkC7DI0QtMQclnmWWtn14BS KTSZoZekWESVYhORwmPEf32EPiC9t8zDRglXzPGmJAPISSQz+Cc9o1ipoSIkoCCh 2MWoSbn3KFA53vgsYd0vS/+Nw5aUksSleorFns2yFgp/w5Ygv0D007k6u3DqyRLB W5y6tJLvbC1ME7jCBoLW6nFEVxgDo727pqOpMVjGGx5zcEokPIRDMkW/lXjw+fTy c6misESDCAWbgzniG/iyt77Kz711unpOhw5aemI9LpOq17AiIbjzSZYt6b1Aq7Wr aB+C1yws2ivIl9ZYK911A1m69yuUg0DPK+uyL7Z86XC7hI8B0IY1MM/MbmFiDo6H dkfwUckE74sxxeJrFZKkBbkEAQRgYw7SAR+gvktRnaUrj/84Pu0oYVe49nPEcy/7 5Fs6LvAwAj+JcAQPW3uy7D7fuGFEQguasfRrhWY5R87+g5ria6qQT2/Sf19Tpngs d0Dd9DJ1MMTaA1pc5F7PQgoOVKo68fDXfjr76n1NchfCzQbozS1HoM8ys3WnKAw+ Neae9oymp2t9FB3B+To4nsvsOM9KM06ZfBILO9NtzbWhzaAyWwSrMOFFJfpyxZAQ 8VbucNDHkPJjhxuafreC9q2f316RlwdS+XjDggRY6xD77fHtzYea04UWuZidc5zL VpsuZR1nObXOgE+4s8LU5p6fo7jL0CRxvfFnDhSQg2Z617flsdjYAJ2JR4apg3Es G46xWl8xf7t227/0nXaCIMJI7g09FeOOsfCmBaf/ebfiXXnQbK2zCbbDYXbrYgw6 ESkSTt940lHtynnVmQBvZqSXY93MeKjSaQk1VKyobngqaDAIIzHxNCR941McGD7F qHHM2YMTgi6XXaDThNC6u5msI1l/24PPvrxkJxjPSGsNlCbXL2wqaDgrP6LvCP9O uooR9dVRxaZXcKQjeVGxrcRtoTSSyZimfjEercwi9RKHt42O5akPsXaOzeVjmvD9 EB5jrKBe/aAOHgHJEIgJhUNARJ9+dXm7GofpvtN/5RE6qlx11QGvoENHIgawGjGX Jy5oyRBS+e+KHcgVqbmV9bvIXdwiC4BDGxkXtjc75hTaGhnDpu69+Cq016cfsh+0 XaRnHRdh0SZfcYdEqqjn9CTILfNuiEpZm6hYOlrfgYQe1I13rgrnSV+EfVCOLF4L P9ejcf3eCvNhIhEjsBNEUDOFAA6J5+YqZvFYtjk3efpM2jCg6XTLZWaI8kCuADMu yrQxGrM8yIGvBndrlmmljUqlc8/Nq9rcLVFDsVqb9wOZjrCIJ7GEUD6bRuolmRPE SLrpP5mDS+wetdhLn5ME1e9JeVkiSVSFIGsumZTNUaT0a90L4yNj5gBE40dvFplW 7TLeNE/ewDQk5LiIrfWuTUn3CqpjIOXxsZFLjieNgofX1nSeLjy3tnJwuTYQlVJO 3CbqH1k6cOIvE9XShnnuxmiSoav4uZIXnLZFQRT9v8UPIuedp7TO8Vjl0xRTajCL PdTk21e7fYriax62IssYcsbbo5G5auEdPO04H/+v/hxmRsGIr3XYvSi4ZWXKASxy a/jHFu9zEqmy0EBzFzpmSx+FrzpMKPkoU7RbxzMgZwIYEBk66Hh6gxllL0JmWjV0 iqmJMtOERE4NgYgumQT3dTxKuFtywmFxBTe80BhGlfUbjBtiSrULq59np4ztwlRT wDEAVDoZbN57aEXhQ8jjF2RlHtqGXhFMrg9fALHaRQARAQABiQQZBBgBCgAPBQJg Yw7SAhsMBQkFo5qAAAoJEJxtzRcoPkVMdigfoK4oBYoxVoWUBCUekCg/alVGyEHa ekvFmd3LYSKX/WklAY7cAgL/1UlLIFXbq9jpGXJUmLZBkzXkOylF9FIXNNTFAmBM 3TRjfPv91D8EhrHJW0SlECN+riBLtfIQV9Y1BUlQthxFPtB1G1fGrv4XR9Y4TsRj VSo78cNMQY6/89Kc00ip7tdLeFUHtKcJs+5EfDQgagf8pSfF/TWnYZOMN2mAPRRf fh3SkFXeuM7PU/X0B6FJNXefGJbmfJBOXFbaSRnkacTOE9caftRKN1LHBAr8/RPk pc9p6y9RBc/+6rLuLRZpn2W3m3kwzb4scDtHHFXXQBNC1ytrqdwxU7kcaJEPOFfC XIdKfXw9AQll620qPFmVIPH5qfoZzjk4iTH06Yiq7PI4OgDis6bZKHKyyzFisOkh DXiTuuDnzgcu0U4gzL+bkxJ2QRdiyZdKJJMswbm5JDpX6PLsrzPmN314lKIHQx3t NNXkbfHL/PxuoUtWLKg7/I3PNnOgNnDqCgqpHJuhU1AZeIkvewHsYu+urT67tnpJ AK1Z4CgRxpgbYA4YEV1rWVAPHX1u1okcg85rc5FHK8zh46zQY1wzUTWubAcxqp9K 1IqjXDDkMgIX2Z2fOA1plJSwugUCbFjn4sbT0t0YuiEFMPMB42ZCjcCyA1yysfAd DYAmSer1bq47tyTFQwP+2ZnvW/9p3yJ4oYWzwMzadR3T0K4sgXRC2Us9nPL9k2K5 TRwZ07wE2CyMpUv+hZ4ja13A/1ynJZDZGKys+pmBNrO6abxTGohM8LIWjS+YBPIq trxh8jxzgLazKvMGmaA6KaOGwS8vhfPfxZsu2TJaRPrZMa/HpZ2aEHwxXRy4nm9G Kx1eFNJO6Ues5T7KlRtl8gflI5wZCCD/4T5rto3SfG0s0jr3iAVb3NCn9Q73kiph PSwHuRxcm+hWNszjJg3/W+Fr8fdXAh5i0JzMNscuFAQNHgfhLigenq+BpCnZzXya 01kqX24AdoSIbH++vvgE0Bjj6mzuRrH5VJ1Qg9nQ+yMjBWZADljtp3CARUbNkiIg tUJ8IJHCGVwXZBqY4qeJc3h/RiwWM2UIFfBZ+E06QPznmVLSkwvvop3zkr4eYNez cIKUju8vRdW6sxaaxC/GECDlP0Wo6lH0uChpE3NJ1daoXIeymajmYxNt+drz7+pd jMqjDtNA2rgUrjptUgJK8ZLdOQ4WCrPY5pP9ZXAO7+mK7S3u9CTywSJmQpypd8hv 8Bu8jKZdoxOJXxj8CphK951eNOLYxTOxBUNB8J2lgKbmLIyPvBvbS1l1lCM5oHlw WXGlp70pspj3kaX4mOiFaWMKHhOLb+er8yh8jspM184= =5a6T -----END PGP PUBLIC KEY BLOCK----- Friend, If you ever need proof that money corrupts our political system, look no further than the carried interest tax loophole. What ‘carried interest’ does which allows hedge fund managers to pay capital gains rates on income that logically should be characterized as ordinary income. Meaning that a hedge fund manager on Wall Street who makes $15,000,000 a year will pay a lower effective tax rate that a kindergarten teacher at your neighborhood elementary school. It’s tax breaks and loopholes like these that cause Americans to lose faith in their government. And we’re not going to be quite about it. Tune in tonight to PBS NewsHour, where Chair of the Patriotic Millionaires Morris Pearl will be featured discussing this egregious loophole and the need to close it. You can go to the NewsHour website here (http://www.pbs.org/newshour/) to check your local listings and tune in. Here is what some of the Patriotic Millionaires have to say about carried interest: “I used to be in the money management business and the only reason why people who manage money have a lower tax rate than people who actually work for a living is that hedge fund managers are more active at making political donations,” said Patriotic Millionaires Chair Morris Pearl, former Managing Director of BlackRock Inc. "I am in the hedge fund and private equity business and the carried interest loophole is welfare for the wealthy," said Patriotic Millionaires Terence Meehan, Chairman of Azimuth Investment Management “The real mystery is how this tax break for billionaires has managed to survive all these years when everyone knows that it makes no sense for people who have no capital at risk to receive this kind of favorable tax treatment,” said Patriotic Millionaire Jeffery Gural, Chairman of Newmark Grubb Knight Frank “If it quacks like a duck it should be taxed like a duck!” said Patriotic Millionaire Frank Pattitucci, CEO & Owner of NuCompass Mobility So please tune in tonight to PBS NewsHour (click here to check your local listings) (http://www.pbs.org/newshour/) and then reply to this email letting us know what you think about the carried interest tax loophole. You can read more about the loophole in the op-ed in The Hill (http://thehill.com/blogs/congress-blog/economy-budget/257083-what-the-carried-interest-tax-loophole-reveals-about-our) that was written by Morris below. Thank you for all your support, The Patriotic Millionaires What the carried interest tax loophole reveals about our corrupt political system Running a government that works for 300 million Americans is expensive. Running a corrupt American government is unsustainable. There is no more striking example of the cost of corruption than tax loopholes that benefit the 1 percent of the 1 percent. In 2014, the top 25 hedge fund mangers made more money than every single kindergarten teacher in America. Yet, because of the “carried interest” tax loophole those 25 people actually paid a lower tax rate. To put it more starkly, individuals making more than $450 million a year on average are taxed at a lower rate than teachers making around $50,000 on average. Carried interest allows money managers to treat much of their fees on their clients’ investments as capital gains, which are taxed at a maximum rate of 23.8 percent instead of the 39.6 percent rate applied to ordinary income. At a time when wages for working people have stagnated at 1990 levels, it is an outrage for a small group of hedge fund operators to have their income taxed at a lower rate. Closing the carried interest loophole would be an important step toward a more economically equitable America. Taxing carried interest at ordinary income rates would raise $18 billion over 10 years, according to a Treasury Department estimate. Other tax experts say it would actually generate closer to $180 billion (http://t.sidekickopen21.com/e1t/c/5/f18dQhb0S7lC8dDMPbW2n0x6l2B9nMJW7t5XYg7fRFRKVS9MNM7fcksnN7q48d91vl5Gf6Jl7gj03?t=http%3A%2F%2Fwww.nytimes.com%2F2015%2F06%2F06%2Fbusiness%2Fdealbook%2Fhow-a-carried-interest-tax-could-raise-180-billion.html%3F_r%3D0&si=6398287083208704π=18004533-91ae-4373-e460-8f8a55128863) in revenue. That’s just enough to cover the shortfall in the Highway Trust Fund. That’s half the cost of guaranteeing every worker paid family and medical leave. With that money we could ensure every child – rich or poor – has the opportunity to attend a pre-K program. But when Wall Street has unlimited access to politicians because of campaign contributions, Main Street America travels on crumbling roads and bridges, working mothers give birth one day and are back in the office the next, and children in lower and middle class families miss out on critical education in their formative years. President Obama last week renewed his call on Congress to do away with this indefensible tax break ahead of the next budget showdown at the end of the month. Leading presidential candidates in both parties – Hillary Clinton, Donald Trump, and Jeb Bush – advocate closing the loophole and taxing capital gains as regular income. But bi-partisan opposition also runs deeps. Last year then-Rep. Dave Camp (R-Mich.) proposed a sweeping tax reform plan (http://t.sidekickopen21.com/e1t/c/5/f18dQhb0S7lC8dDMPbW2n0x6l2B9nMJW7t5XYg7fRFRKVS9MNM7fcksnN7q48d91vl5Gf6Jl7gj03?t=http%3A%2F%2Fdealbook.nytimes.com%2F2014%2F02%2F26%2Fhouse-proposal-would-raise-taxes-on-private-equity-income%2F&si=6398287083208704π=18004533-91ae-4373-e460-8f8a55128863) that included treating carried interest as regular income. The plan was dead on arrival. In 2010, the House passed a bill closing the loophole, but it was scuttled in the Senate by members of both parties with strong ties to Wall Street. In 2012 and 2014, financial interests spent more than $1.1 billion (http://t.sidekickopen21.com/e1t/c/5/f18dQhb0S7lC8dDMPbW2n0x6l2B9nMJW7t5XYg7fRFRKVS9MNM7fcksnN7q48d91vl5Gf6Jl7gj03?t=http%3A%2F%2Fwww.opensecrets.org%2Findustries%2Ftotals.php%3Fcycle%3DAll%26ind%3DF&si=6398287083208704π=18004533-91ae-4373-e460-8f8a55128863) to help elect politicians from both parties to Congress. Managers of Paulson & Co., one of the largest hedge funds, dropped nearly $2.5 million (http://t.sidekickopen21.com/e1t/c/5/f18dQhb0S7lC8dDMPbW2n0x6l2B9nMJW7t5XYg7fRFRKVS9MNM7fcksnN7q48d91vl5Gf6Jl7gj03?t=http%3A%2F%2Fwww.opensecrets.org%2Forgs%2Ftotals.php%3Fid%3DD000036555%26cycle%3D2014&si=6398287083208704π=18004533-91ae-4373-e460-8f8a55128863) in the last two federal election cycles. Executives of Elliot Management, another large fund, spent $23 million (http://t.sidekickopen21.com/e1t/c/5/f18dQhb0S7lC8dDMPbW2n0x6l2B9nMJW7t5XYg7fRFRKVS9MNM7fcksnN7q48d91vl5Gf6Jl7gj03?t=http%3A%2F%2Fwww.opensecrets.org%2Forgs%2Ftotals.php%3Fid%3DD000021972%26cycle%3D2014&si=6398287083208704π=18004533-91ae-4373-e460-8f8a55128863) over that time. Savvy investors don’t throw around this kind of money if they aren’t getting something back in return. Whether it’s a contracting process that awards the companies with the best lobbyists instead of the best services, taxpayer funded subsidies to the same multi-billion dollar companies spending millions of dollars to elect politicians to office, or the carried interest loophole, everyday Americans pay a heavy price for a government of, by, and for wealthy special interests. It’s great to see a growing consensus among some White House hopefuls to end preferential tax treatment for hedge fund managers, but the fact remains that Congress is still beholden to the wealthy donors funding their reelections. Severing the ties between Wall Street and Congress with, for example, a small donor matching system that incentivizes candidates to raise campaign funds from everyday Americans would not only help us realize the promise of democracy envisioned by the Founders, it would also turn the political tide against the carried interest loophole and other welfare for the wealthy. If we don’t rebalance our democracy so it responds to the needs of the many instead of the few, the middle class will continue to bear the costs of corruption. -Morris Pearl, Chair of The Patriotic Millionaires in The Hill, (http://thehill.com/blogs/congress-blog/economy-budget/257083-what-the-carried-interest-tax-loophole-reveals-about-our) 10/16/2015 ============================================================ ** (http://patrioticmillionaires.org/) ** (https://www.facebook.com/PatrioticMillionaires) ** (https://twitter.com/PatrioticMills) ** (https://www.youtube.com/user/PatrioticMillionaire/videos) ** (http://us10.forward-to-friend.com/forward?u=342ce4f59cceb065ee97f787b&id=bbf8119f36&e=b6c672c685) ** Forward (http://us10.forward-to-friend.com/forward?u=342ce4f59cceb065ee97f787b&id=bbf8119f36&e=b6c672c685) Our mailing address is: Patriotic Millionaires 1010 Wisconsin Ave NW Suite 705B Washington, Dc 20007 USA Need to change how you receive emails from the Patriotic Millionaires? You can ** update your preferences (http://patrioticmillionaires.us10.list-manage.com/profile?u=342ce4f59cceb065ee97f787b&id=560357a441&e=b6c672c685) or ** unsubscribe from this list (http://patrioticmillionaires.us10.list-manage1.com/unsubscribe?u=342ce4f59cceb065ee97f787b&id=560357a441&e=b6c672c685&c=bbf8119f36)