Monday, August 15, 2011

Stop Coddling the Super-Rich


Stop Coddling the Super-Rich: "OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors..."

2 comments:

MotivatedinOhio said...

Warren Buffet Makes some sense.  I guess it just depends on which Billionaire that you listen to.

Underground Politics said...

That is so true. The CEO of Starbucks is getting in on it too.