Obama - love of money, dislike of principles

Obama Won't Return Money From Tax Deals He Dislikes - Bloomberg: "Donors involved with the tax deals include Blair Effron, an investment banker who hosted Obama for a May fundraiser at his two-level, 9,000-square-foot apartment on Manhattan’s Upper East Side. Others are Jim Rogers, co-chairman of the host committee for the 2012 Democratic National Convention; Roger Altman, a former senior Treasury Department official who raised at least $200,000 for Obama’s re-election campaign; and Shantanu Narayen, who sits on the president’s management advisory board.

Presidential Tensions

How U.S. Companies Buy Tax Breaks

The administration’s connections to these donors are causing tensions for the president as he urges Congress to act against the deals and prods the Treasury Department for short-term steps to curb them. The president’s tough talk also may become a liability as Democrats seek corporate America’s cash this year as they try to preserve their majority in the U.S. Senate.

“It’s populist rhetoric,” said former U.S. Senator Bob Kerrey, a Nebraska Democrat who advises clients at Carmen Group Inc., a Washington consulting and lobbying firm. “And at some point it’s sufficiently misleading that it draws the attention away from the difficulties involved with an agreement to lower the corporate tax rates -- that’s not an easy thing to do.”"



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