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Cantor Claims Raising Hedge-Fund Tax Rate Would Hurt Small Businesses

Fri, 27 Mar 2009 16:10:22 -0700
In its proposed budget, the White House recommends effectively raising the tax rate on hedge fund managers from 15% to almost 40%. Many Hill Democrats and Republicans back the move. But in a striking stretch of logic, Republican Whip Rep. Eric Cantor recently said increasing the tax would cut off "the lifeblood of small business." Bob McIntyre, head of the nonpartisan group Citizens for Tax Justice disagreed. He said the President's proposal would not affect small business. House GOP Wil