Henry Kravis, Stephen Schwarzman, Peter Peterson. Ring a bell? Maybe not. Those guys are the princes of private equity (the key buzzword in B-schools nowadays). According to Forbes, Kravis is worth $2.6 billion. Peterson made $1.88 billion when his ludicrously Savile Row named Balckstone Group went public last month. So, who wouldn’t like to be a private equity king?
Property is a freedom dear to all of us. We’re all greedy. Especially Kravis & Co. Henry and his friends have paid a visit to the Congress wielding their check books in an effort to save a tax provision that allows them to pay an income tax of 15% rather than the normal rate of 35%. Basically, those guys want to enjoy a lower tax rate than the people who clean their toilets. I just love this move. My friend, that’s capitalism, the magic supposed to turn our individual greed into general prosperity.
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