May 28, 2010

MEMO FROM MOVEON.ORG

---------- Forwarded message ----------
From: Daniel Mintz, MoveOn.org Political Action <moveon-help@list.moveon.org>
Date: Fri, May 28, 2010 at 12:45 PM
Subject: What is Sen. Kerry doing!?!
To: Terry Travers <trrytrvrs@gmail.com>


The Senate was set to close the outrageous loophole that has hedge fund managers paying lower taxes than teachers. But amazingly, Sen. Kerry is fighting to keep the loophole. Can you call and tell her to stop protecting super-rich investment managers?

Senator John Kerry
Phone: 202-224-2742


Report your call
Dear MoveOn member,

On many issues, Sen. Kerry has been a solid progressive. But not today.

The Senate was set to vote tomorrow on a bill closing the outrageous tax loophole that lets billionaire hedge fund managers pay much lower taxes than regular folks. It's a change that's long past due.

But Sen. Kerry and a few other senators are fighting on behalf of wealthy investment managers to keep the loophole in place.1 And in part because of Sen. Kerry's stance, the bill will be delayed by weeks, which means unemployment benefits for workers who were laid off because of the financial crisis will expire.2

He needs to hear from people in Massachusetts that protecting super-rich investment fund managers at the expense of struggling families is unacceptable, and it's wrong. Can you call Sen. Kerry right now to let him know you want him to close the "investment fund managers' loophole," not fight to protect it?

Senator John Kerry
Phone: 202-224-2742

Then, please report your call by clicking here:

http://pol.moveon.org/call?tg=FSMA_1&cp_id=1375&id=20736-17630246-SSvlHkx&t=3

Sen. Kerry has received more than $6 million in contributions from investment firms in his career.3 And he's doing exactly what they want—trying to to perpetuate a system that helps the super-rich, but is grossly unfair to working Americans.

Why is someone like Sen. Kerry opposing this? It's hard to say, and his explanation doesn't make a ton of sense.4 But the sad truth is, the financial industry, including the investment fund managers affected by this bill, has become a major source of support for Democrats like Sen. Kerry. And right now, these rich donors are freaking out because they have a lot to lose if this loophole is closed. And that seems to have spooked a bunch of Democrats who should know better.

If you missed it on Wednesday, here's a chart that shows just how outrageous this loophole is, letting hedge fund managers pay lower taxes than firefighters, teachers, police officers and doctors.

Hedge Fund Manager Chart

Please call Sen. Kerry right now and tell him to support the "American Jobs and Closing Tax Loopholes Act of 2010," including the closure of the investment fund managers' loophole?

Senator John Kerry
Phone: 202-224-2742

Then, please report your call by clicking here:

http://pol.moveon.org/call?tg=FSMA_1&cp_id=1375&id=20736-17630246-SSvlHkx&t=5

Thanks for all you do.

–Daniel, Anna, Matt, Nita, and the rest of the team

Sources:

1. "Dems Fighting Over Tax Loophole For Money Managers," The Huffington Post, May 19, 2010
http://www.moveon.org/r?r=88469&id=20736-17630246-SSvlHkx&t=6

2. "Senate to go on recess without extending federal unemployment benefits," Mlive.com, May 27, 2010
http://www.moveon.org/r?r=88477&id=20736-17630246-SSvlHkx&t=7

3. "John Kerry: Campaign Finance/Money," OpenSecrets, May 27, 2010
http://www.moveon.org/r?r=88471&id=20736-17630246-SSvlHkx&t=8

4. "Venture Capitalists Fight a Tax Increase," The New York Times, May 20, 2010
http://www.moveon.org/r?r=88474&id=20736-17630246-SSvlHkx&t=9


  

Want to support our work? We're entirely funded by our 5 million members—no corporate contributions, no big checks from CEOs. And our tiny staff ensures that small contributions go a long way. Chip in here.


PAID FOR BY MOVEON.ORG POLITICAL ACTION, http://pol.moveon.org/. Not authorized by any candidate or candidate's committee. This email was sent to Terry Travers on May 28, 2010. To change your email address or update your contact info, click here. To remove yourself from this list, click here.

No comments: