Blackstone, Venture Firms Protest Tax Break for Family Farmers

[Ardent15]

June 7 (Bloomberg) -- Blackstone Group LP and other firms protesting a plan by Congress to increase taxes on executives of investment partnerships are focusing on what they say is an exemption for family farmers.

The farm provision, characterized by the U.S. House Ways and Means Committee as a “clarification,” was inserted by the Rules Committee in broader jobs legislation just hours before the House approved the bill May 28.

Buyout firms, venture capitalists and real-estate partnerships, whose fund managers in some cases would have their taxes raised by more than 150 percent, said the change violates pledges by House Speaker Nancy Pelosi and Ways and Means Committee Chairman Sander Levin that the tax would apply to all investment partnerships.

“It’s a carve-out in the bill, there’s no question about it,” said Mark Heesen, president of the National Venture Capital Association, an Arlington, Virginia-based trade group that is lobbying the Senate for its own exemption. “It shows that they are not being upfront.”

more

http://www.businessweek.com/news/2010-06-07/blackstone-venture-firms-protest-tax-break-for-family-farmers.html

:nopity: :nopity: for the poor wittle executives and disaster...er, "venture" capitalists.

[tsuki]

1. If Peter G. Peterson of the Blackstone Group and the

Peter G. Peterson Foundation can pledge a billion dollars of his earnings from his Wall Street scamming to destroy Social Security and Medicare, he can pay his taxes without attacking family farms.

[Scuba]

2. I grew up on a 40 acre family farm....

...and I have one word for this despicable excuse for an American. But I'm too polite to post it here.

[Liberal_in_LA]

3. kick

[lib2DaBone]

4. I worked for a hotel chain owned by The Blackstone Group..

.. they are THE WORST nickle and dime, petty back-stabbing whiny evil mo-fo's I ever encountered.

They lie, cheat their employees on tips and overtime, they scam the public with bait and switch on room rate , they use false advertising and they are basically the most repulsive humanoids I have ever had the mispleasure to work for.

And that is their good points.....

Now Mr. Obama has put this man Pete Peterson in charge of the fate of our only social safety net... (bad shivers thru the body) and told them to meet behind closed doors...