The following is an excellent article written by Jennifer Parker on the ABC News website on February 20, 2008 titled “Real ‘Work’? Clinton Swipes at Chelsea’s Profession” and I quote:
“Real ‘Work’? Clinton Swipes at Chelsea’s Profession”
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.”
(WHILE I’M GOING TO BE 83 NEXT MONTH ON JULY 3, I STILL HAVE MY PURPLE T-SHIRT THAT SAYS “TAX HEDGE FUND DEALERS!” ON IT AND I STILL WRITE A MONTHLY LETTER IN OUR LOCAL PAPER, THE MONROE TIMES. SENATOR BERNIE SANDERS IS STILL WARNING OUR LEGISLATORS THE DANGER IN DEREGULATING THE FIVE, BIG INVESTMENT BANKS AND GETTING RID OF THE DODD-FRANK BILL. IN FACT, HE ALMOST BEAT HILLARY CLINTON ON THAT ISSUE OF THE DANGER OF THE BIG INVESTMENT BANKS CREATING A MONOPOLY AND THE FACT THAT THEY SHOULD BE BROKEN UP AND REINSTATE THE GLASS-STEAGALL ACT WHICH DEMOCRATIC PRESIDENT FRANKLIN ROOSEVELT PASSED IN 1933. IF THE DEMOCRATS ARE GOING TO REGAIN CONGRESS, THEY ARE GOING TO HAVE TO TALK ABOUT REAL ISSUES LED BY A MUCH-MORE ACTIVE FULL TIME DNC CHAIRMAN BECAUSE UP TO NOW, I’VE ONLY SEEN HIM ONCE ON SUNDAY MORNING TV.
LaVern Isely, Progressive, Overtaxed, Independent Middle Class Taxpayer and Public Citizen Member and USAF Veteran