Billionaire-Hedge-Fund-Loopholes
The online press is singeing with the hottest story of the day. The Republican party is willing to hold out on the debt ceiling and risk going into financial default, because of the unwillingnness to close tax loopholes for the wealthiest on Wall Street.
John Boehner will say publicly on television that the rich business community needs these tax breaks (loopholes) to help create jobs. Republicans should be worried about jobs, their own jobs.
Where are those jobs that were created by tax breaks? Hasn’t worked so far yet.
Do Republicans think that ordinary voters are too dumb to understand the real issue? What are Republicans trying to hide? This is a must watch video!
Big shot managers of financial institutions that deal with certain equities are gaming the system legally. Hedge fund managers are only paying 15% on their profits — which is a capital gains tax. These same hedge fund managers should be paying a personal tax rate — which is 35% (New York Times).
The top 1% of the wealthiest class owns more capital than 90% of the population on the bottom! And they want to remain tax dodgers?
So Americans should be willing to cut funding on social security, Medicaid, Medicare, city parks, college assistance, and much more to let these weasels stuff billions more in their back pockets? Is this fair treatment for the great American Society?
Want to know more about the richest 25 hedge fund managers and how they fared last year? Check out the hit list (Reuters). The poor fellows on Wall Street.
President Obama has his plate full with balancing a deficit budget while the top earners in the nation try everything to avoid paying their piece of the pie. Americans as a whole are paying less on taxes since the year of 1958 (USA Today). This is the real reason that America is sinking. Government entities have existed for decades and the United States flourished. However, the tax rate was much higher.
Hedge fund managers do have one source of competition — U.S. Senators that are getting corporate insider trade information. A study in 1995 shows that U.S. Congresssmen regularly buy stock after they have passed legislation contributing to the same stock (AR Magazine).
Loopholes that Congressmen use are perfectly legal as well. This isn’t controversial either. Right?
Is closing down the hedge fund loophole going to cause the next “class war” (Daily Kos)?
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