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May 17, 2007

There's Big Money in Poverty

The financial disclosure forms have been released, and sure enough, it seems that studying poverty is really good business.

[Edwards'] biggest single source of earned income was his $479,512 salary from Fortress Investment Group, the hedge fund for which he was a consultant last year.

Edwards has made fighting poverty a signature element of his campaign. He has said his work for a fund that generally caters to the wealthiest of investors was designed to educate him about the relationship between poverty and wealth and should not overshadow his work for the poor.

Dee Dee Myers, on the "Today" show, criticizes Edwards for the inconsistency between his rhetoric and his lifestyle. I don't begrudge the man his money - yay capitalism! - but am growing tired of just how phony he is.

Why can't he just bring himself to admit that he worked for the hedge fund because he wanted to make some money? Half a million in the bank makes his explanation about researching poverty ring a little hollow. If this were about research alone, surely a guy worth $30 million could have done a little pro bono work, right?

After all, this is a guy who says Jesus would be appalled by people's focus on their "selfish-short-term needs." I guess the short term need to pocket an easy consultant fee doesn't count.

So what are the results of Edwards' lucrative research? What new and fresh ideas does he have to combat poverty? Well, take a look - it's a blend of government programs and mandates on business, initiatives which will require increased taxation to fund.

You know, John Edwards' America looks like a pretty nice place. Too bad his party is trying to tax middle class folks out of it.


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posted by Slublog at 09:39 AM

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