Obama targets hedge funds in personal remarks on poverty, race

By Jeff Mason WASHINGTON (Reuters) - President Barack Obama addressed U.S. struggles with class and race in personal terms on Tuesday and renewed his call to close tax loopholes enjoyed by wealthy hedge fund managers as a way to reduce poverty among Americans. "The top 25 hedge fund managers made more than all the kindergarten teachers in the country," Obama said at a panel discussion on poverty at Georgetown University. He advocated for a higher tax rate on the fees that hedge fund managers collect. "If we can’t ask from society’s lottery winners to just make that modest investment, then, really, this conversation is for show." With police shootings of unarmed black men in the news and roughly a year and a half left in the White House to shape his legacy, Obama and his wife, Michelle, have become increasingly open in their remarks about race.

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Written by: editor - Tuesday, May 12, 2015