Speaking at the summit on poverty Wednesday afternoon, President Obama said that successful business people are "society's lottery winners."
"The top 25 hedge-fund managers made more than all of the kindergarten teachers in the country. When I say that, I'm not saying that because I dislike hedge fund managers or I think they are evil, I’m saying that you’re paying a lower rate than a lot of folks who are making $300,000 every year. You pretty much have more than you’ll ever be able to use in your family will ever be able to use.
"There’s a fairness issue involved here and by the way, if we were able to close that loophole, I could not invest in early childhood education to make a difference. That’s where the rubber hits the road. That’s Arthur where the question of compassion and I'm my brother’s keeper comes into play.
"And if we can’t ask from society’s lottery winners to just make that modest investment, then really this conversation is for show. If we can’t ask that much," President Obama said.