Private-Equity $$ Flow to GOP Firms shift money as Dems back higher taxes on industry By Wesley Oliver Posted Jul 17, 2007 3:36 PM CDT Copied Democratic presidential candidate Sen. Chris Dodd, D-Conn., addresses members of the National Association of Latino Elected and Appointed Officials in Lake Buena Vista, Fla., Saturday, June, 30, 2007. (AP Photo/Reinhold Matay) (Associated Press) As Democrats push higher taxes for private-equity firms, the firms are reciprocating by funneling more money to the other side of the aisle, the Wall Street Journal reports. Figures for 2008 presidential campaign giving show GOP contenders receiving 53% of donations made by private-equity funds. In 2000 and 2004, Democrats received the majority of donations. Democrats in Congress and on the campaign trail have supported raising the tax rate for private-equity firms going public, as well legislation closing loopholes that benefit fund managers. Republicans oppose both moves. Mitt Romney currently leads all others in donations from private-equity companies. Read These Next Trump may be targeting this city next due to a misleading news report. A pastor's dream factored in the discovery of hiker's remains. There's a vast supply of fresh water under the ocean. Pilot who tried to cut engines won't be going to state prison. Report an error