Sunday, November 29, 2009


This is appalling example of unfair, regressive taxation:

[A] generous tax break for hedge fund managers, private-equity specialists, and venture capitalists ... has long been a target of tax equity advocates, who say it unfairly enriches high-earning financiers. Partners in those sectors of the investment industry enjoy a 15 percent tax rate on much of their profits, which are treated as capital gains, instead of the 35 percent rate they would pay if their earnings were taxed under normal income rules.
This vast and ugly loophole could only exist in a system bought and paid for by the interests of wealth. Haven't we bought the financial system back many times over by now?

It's time for pitchforks, metaphorical ones at least.

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