Democratic presidential hopefuls are "playing the class warfare card" by supporting tax increases on private-equity and hedge-fund managers, says Robert L. Johnson, the billionaire founder of Black Entertainment Television, who warns the hike would hit minority-run investment firms.
"I believe there's a tendency of certain members of the Democratic Party to pursue tax changes as part of some soak-the-rich strategy without thinking about the longer-term consequences to the overall economy," Johnson told The Hill.
Of course, these remarks came only a few years after Johnson set up his own hedge fund in a deal with Deutsche Asset Management. Johnson is simply a corrupt corporate type, and it's amazing that Clinton would dispatch him as a surrogate.
Obama should use this moment to go after big media and outclass Clinton with substantive and sharp distinctions on policy that show him as a forward-looking and deep candidate. He is already out with the policy that diversity of media ownership is critical to a healthy media system, now is a good moment to make that explicit and go after the media monopolies.
Better that than continue this identity fight, which, because of the stereotypes being thrown around, he will probably lose. He's doing much better in the recently released Washington Post poll, that shows the race nationally at 42-37-11. Obama has already garnered increased support from African-Americans because of the Clinton campaign's attacks combined with his Iowa victory, leading to Clinton practically pulling out of South Carolina. It's time to get back the white liberals. Moving off of racial identity and on to some substantive and noticeable fight would be a way to do that.
Update: (via Matthew Yglesias) Johnson also worked on privatizing Social Security. Awesome.