“It’s time for us to return to where we once had been before taxes were demonized and government was demonized,” said Arnold Hiatt, former chief executive and chairman of the shoe company Stride Rite.

Patriotic Millionaires reiterated their call to end the carried interest loophole which allows hedge fund managers to pay capital gains rates on income that should be taxed as ordinary income, just hours after President Obama called for its closure

We reject the premise that increasing taxes is bad.

Today, the Patriotic Millionaires called for an end to the carried interest loophole which allows hedge fund managers to pay capital gains rates on income that logically should be characterized as ordinary income.