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Private-Equity $$ Flow to GOP

Firms shift money as Dems back higher taxes on industry

By Wesley Oliver,  Newser Staff

Posted Jul 17, 2007 3:36 PM CDT
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(Newser) – As Democrats push higher taxes for private-equity firms, the firms are reciprocating by  funneling more money to the other side of the aisle, the Wall Street Journal reports. Figures for 2008 presidential campaign giving show GOP contenders receiving 53% of donations made by private-equity funds. In 2000 and 2004, Democrats received the majority of donations. 

Democrats in Congress and on the campaign trail have supported raising the tax rate for  private-equity firms going public, as well legislation closing loopholes that benefit fund managers. Republicans oppose both moves. Mitt Romney currently leads all others in donations from private-equity companies.

Democratic presidential candidate Sen. Chris Dodd, D-Conn., addresses members of the National Association of Latino Elected and Appointed Officials in Lake Buena Vista, Fla., Saturday, June, 30, 2007. (AP Photo/Reinhold Matay)
Democratic presidential candidate Sen. Chris Dodd, D-Conn., addresses members of the National Association of Latino Elected and Appointed Officials in Lake Buena Vista, Fla., Saturday, June, 30, 2007....   (Associated Press)
Democratic Presidential hopefuls (L-R) Sen. Hillary Clinton, D-N.Y., Sen. Joseph Biden, D-Del., New Mexico Gov. Bill Richardson, former Sen. John Edwards, D-N.C., Sen. Barack Obama, D-Ill. and Rep. Dennis Kucinich, D-Ohio greet the audience before the televised Democratic presidential candidates debate at Howard University in Washington Thursday, June...
Democratic Presidential hopefuls (L-R) Sen. Hillary Clinton, D-N.Y., Sen. Joseph Biden, D-Del., New Mexico Gov. Bill Richardson, former Sen. John Edwards, D-N.C., Sen. Barack Obama, D-Ill. and Rep. Dennis...   (Associated Press)
Democratic Presidential hopefuls (L-R) Sen. Hillary Clinton, D-N.Y., Sen. Joseph Biden, D-Del., New Mexico Gov. Bill Richardson, former Sen. John Edwards, D-N.C., Sen. Barack Obama, D-Ill., Rep. Dennis Kucinich, D-Ohio, former Sen. Mike Gravel, D-Alaska and Sen. Christopher Dodd, D-Conn. pose before the televised Democratic presidential candidates debate...
Democratic Presidential hopefuls (L-R) Sen. Hillary Clinton, D-N.Y., Sen. Joseph Biden, D-Del., New Mexico Gov. Bill Richardson, former Sen. John Edwards, D-N.C., Sen. Barack Obama, D-Ill., Rep. Dennis...   (Associated Press)
Republican presidential hopeful former Massachusetts Gov. Mitt Romney, left, and Republican presidential hopeful former New York City Mayor Rudy Giuliani share a laugh at the end of the Republican presidential primary debate hosted by Saint Anselm College in Manchester, N.H., Tuesday, June 5, 2007. (AP Photo/Elise Amendola)
Republican presidential hopeful former Massachusetts Gov. Mitt Romney, left, and Republican presidential hopeful former New York City Mayor Rudy Giuliani share a laugh at the end of the Republican presidential...   (Associated Press)
Republican presidential hopefuls former New York City Mayor Rudy Giuliani, left, and Sen. John McCain, R-Ariz. shake hands at the end of the Republican presidential primary debate hosted by Saint Anselm College in Manchester, N.H., Tuesday, June 5, 2007. (AP Photo/Elise Amendola)
Republican presidential hopefuls former New York City Mayor Rudy Giuliani, left, and Sen. John McCain, R-Ariz. shake hands at the end of the Republican presidential primary debate hosted by Saint Anselm...   (Associated Press)
Democratic presidential hopefuls former Sen. John Edwards, D-N.C.; Sen. Hillary Clinton, D-N.Y.; and Sen. Barack Obama, D-Ill., appear on stage before the start of the Democratic presidential primary debate hosted by Saint Anselm College in Manchester, N.H., Sunday, June 3, 2007. (AP Photo/Charles Krupa)
Democratic presidential hopefuls former Sen. John Edwards, D-N.C.; Sen. Hillary Clinton, D-N.Y.; and Sen. Barack Obama, D-Ill., appear on stage before the start of the Democratic presidential primary...   (Associated Press)
Democratic presidential hopefuls Sens. Hillary Clinton, D-N.Y., Barack Obama, D-Ill., and former Sen. John Edwards are introduced on stage during a forum on faith, values, and poverty hosted by Sojourners/Call to Renewal at George Washington University, Monday, June 4, 2007, in Washington. (AP Photo/Manuel Balce Ceneta)
Democratic presidential hopefuls Sens. Hillary Clinton, D-N.Y., Barack Obama, D-Ill., and former Sen. John Edwards are introduced on stage during a forum on faith, values, and poverty hosted by Sojourners/Call...   (Associated Press)
Republican presidential hopefuls former Massachusetts Gov. Mitt Romney, left, embraces former New York City Mayor Rudy Giuliani, as Sen. John McCain, R-Ariz., walks by after the Republican debate at University of South Carolina's Koger Center for the Arts, Tuesday, May 15, 2007, in Columbia, S.C. (AP Photo/Pablo Martinez Monsivais)
Republican presidential hopefuls former Massachusetts Gov. Mitt Romney, left, embraces former New York City Mayor Rudy Giuliani, as Sen. John McCain, R-Ariz., walks by after the Republican debate at University...   (Associated Press)
Democratic presidential candidate Sen. Chris Dodd, D-Conn., addresses members of the National Association of Latino Elected and Appointed Officials in Lake Buena Vista, Fla., Saturday, June 30, 2007. (AP Photo/Reinhold Matay)
Democratic presidential candidate Sen. Chris Dodd, D-Conn., addresses members of the National Association of Latino Elected and Appointed Officials in Lake Buena Vista, Fla., Saturday, June 30, 2007....   (Associated Press)
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