Behind every billionaire there is a story!

An American billionaire’s exhortation: Tax the rich, but carefully

The ballroom at the Mandarin Oriental hotel in New York is loud with the cocktail chatter of Blackstone investment bankers and pension fund managers so Peter Peterson, 81, leans closer to hear the shouted question from Michael McCurry, the former White House spokesman for President Bill Clinton.

“When is Pete Peterson going to stand up and say taxes must go up?” McCurry asks, pressing his point. We are at a make-or-break point in American history,” Peterson said. “The entitlement monster is unfunded. We are dangerously dependent on foreign capital, our health care costs per capita are twice the level of the developed world. The goal is to integrate public policy and charitable giving and to answer this question: How do you educate a public that has become largely inert?”

read the rest published by IHT here:

http://www.iht.com/articles/2008/02/15/business/15pete.php