Wednesday, June 9, 2021

Watch Out for PEU Politicians


Propublica revealed how billionaires pay little in taxes, something that has long frustrated the general public.  Despite contributing little to public coffers these billionaires have outsized influence on public policy.  

Glenn Youngkin, Red Team candidate for Virginia Governor, spent his career with The Carlyle Group.  Carlyle founder David Rubenstein saved private equity underwriter's (PEU) preferred taxation numerous times over the last fifteen years.

Politicians Red and Blue love PEU.  That is a serious problem for the average American. 

Update 6-10-21:  George Carlin noted this long ago.  "They spend billions of dollars every year lobbying, lobbying to get what they want. Well, we know what they want. They want more for themselves and less for everybody else. But I’ll tell you what they don’t want. They don’t want a population of citizens capable of critical thinking. They don’t want well-informed. Well educated people capable of critical thinking. They’re not interested in that. That doesn’t help them. That’s against their interest. That’s right. They don’t want people who are smart enough to sit around the kitchen table and figure out how badly they’re getting fucked by a system that threw them overboard 30 fucking years ago. They don’t want that."

Update 7-2-21:  Former Carlyle co-CEO Glenn Youngkin referred to Asian people as "Yellow" Virginians.  Youngkin's co-CEO Kewsong Lee of Korean descent.

Update 7-8-21:  Youngkin answered a question on abortion saying "When I’m governor and I have a majority in the House, we can start going on offense. But as a campaign topic, sadly, that in fact won’t win my independent votes that I have to get.”

Update 7-18-21:  Youngkin is proving to be an elusive candidate on issues.   He does know how to use debt to enhance his financial position and avoid taxes.