Pundits and news junkies aren’t the only people talking about presidential politics these days. Some attorneys want to add their two cents as well.
We saw earlier what happened when Orrick attorneys used the firm-wide email list to espouse political views. But Jack Levin, a partner at K&E Chicago, apparently felt that he had learned from the Orrick situation. He sent around what can only be described as a partner’s version of a “HTH” firm-wide email:
From: Jack Levin
Sent: 10/07/2008 03:31 PM CDT
To: #FW Attorneys
Subject: Federal income taxes
In case clients ask you about likely tax policy for high-income folks should Obama be elected, I briefly summarize below Obama’s tax positions(announced 8/14/08) with respect to income tax on high end folks.
This memo is not intended to solicit votes or contributions to any particular candidate, but simply to permit you to converse knowledgeably with clients about Obama tax positions:
* Individual long-term capital gain (“LTCG”) top rate 20%, same as under President Bill Clinton.
* Individual dividend income top rate 20%, same as LTCG, lower than Clinton administration when dividends were taxed at ordinary income (“OI”) rates up to 39.6%.
* Individual OItop rate 39.6%, same as under President Clinton.
* Social security(FICA) payroll tax — currently imposed on individual’s compensation up to $102,000 per year (which amount increases slightly each year with inflation) at 12.4% rate (half on employer and half on employee) — Obama proposes no change for a decade and then (if necessary to save social security system) tax between 2% and 4% (half on employer and half on employee) on individual’s compensation in excess of $250,000 per year.
Is this useful information that the whole firm needs to know?
Mr. Levin failed to remind his K&E colleagues that he had previously been outed by Law.com as an Obama tax policy adviser:
At Kirkland, appellate and litigation head Christopher Landau is a member of McCain’s Justice Advisory Committee, while partner Jack Levin advises Obama on tax policy and Jewish community relations.
Reaction pours in from around the firm after the jump.