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Obama targets hedge funds in personal remarks on poverty, race

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.

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