Obama really is Odumba...

Discussion in 'Politics & Religion' started by LEAPup, Sep 20, 2010.

  1. LEAPup



    Odumba on "Investing" CNBC

    He made the statement that it's not fair for Hedge Fund Managers to only pay 15% federal taxes on their income while their secretaries pay 25-28%:eek:

    Unreal! He cannot decipher between the pass through entity that a HF is, and the HF Manager's income!!! A HF is a pass through, meaning the GAINS are taxed at 15%. He actually believes a HF Manager making 1B/year pays 15% fed taxes on his/her pay!!!

    If you make 1B/year, you pay 35% in federal taxes, NOT 15%!!

    Hello, is anyone home??!?!?:confused: :eek:
  2. nickdes


    You remember that obama was only a person that passed out papers on the corner don't you!!!!!!! He organized the community into believing that he is a god!!!!!!!
  3. Sounds like he's been talking to Warren Buffett and misunderstood the lesson.
  4. LEAPup


    I received a pm from a member here saying the same thing. So, Odumba probably did talk to his liberal friend Warren. However, I don't see how a 1B/year HF Manager could only pay 15% in fed taxes unless ALL of his/her $$$$$$ was invested in HF's, and muni's. (Municipal bonds being tax free.)

    NO Hf Manager is going to have ALL of their $$$$ in HF's just to get the 15% pass through on gains. None!

    I can't believe Odumba is really that dumb!!! Stunning statement of total ignorance!!!

    He also blasted Rick Santelli, so I hope Rick was watching that "investing" show, and points out just how stupid Odumba really is!
  5. I think Obama is talking about 2/20 structure. I am not sure. The manager make (2%) of asset value of this fund. This they pay 35% tax.
    Then of the (profit in one year for the fund) the manager make (20%)
    Of this (20%) of one year profit of the whole fund, this manager pay 15% tax.
  6. Hey Obama...here is an idea for ya then...Lower the secretaries income tax to 15%. There...now its fair and everyone is happy.

    Oh thats right...the government thinks YOUR money is actually THEIR money.
  7. LEAPup



    the 15% pass through is for investment gains. i.e., if you have money in the fund you get the 15% pass through. If you are the manager, and get paid 20% of the performance, that is ORDINARY INCOME paid to the Manager. The only way the manager gets 15% fed taxes is if he/she has THEIR money in the fund.

    The 2/20 has zero to do with it.

    Again, the 15% pass through is for INVESTORS to pay taxes on the gains. The performance pay the manager receives is ordinary income taxed at their bracket.

    Odumba is an idiot. I cannot believe what I sat and heard him say! It was so dumb, it was scary! Who the hell voted for this idiot!!! God help America!:(
  8. You do know this is going to p&r right?
  9. LEAPup


    How is this topic Politics and Religion when the entire one hour CNBC show was about investing, the US economy, and taxes?:confused:

    You're kidding me, right?
  10. I think Obama is right on this one.
    A tax loophole allows private equity and hedge fund managers to get taxed at the long term cap gains of 15% for the incentive fee they earn on long term investments.
    This makes no sense, because the hedge fund manager did not risk his own capital like the investor in the hedge fund. This is clearly income for the manager, this should be taxed at the income tax rate not the capital gains.
    The incentive pay is clearly for services rendered not for putting own capital at risk.

    I am all for lower taxes but it should be fair.
    #10     Sep 20, 2010