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Re: According to Faux News' Brit Hume, inequality which favors the rich shouldn't be anyone else's concern...
By: oldCADuser in
FFFT Wed, 21 Sep 11 12:19 AM
Which is part of the problem since so much 'income' has been reclassified into something else. For example, dividends. Now it's one thing to say that an actual dividend paid on an investment is not the same as income, but when that logic is used to reclassify what hedgefund mangers take home every week in their 'paychecks' as 'dividends' subject to a maximum tax rate of 15% (and if the GOP has it's way, it would be totally tax exempt) that's going too far. And since it's not considered as 'income' they don't even pay 'payroll' (social security or medicare) taxes. These are schemes which are allowing people to make millions (some hedgefund manages cleared over a billion last year) while avoiding paying their fair share all based on some loophole written into the tax code by some lobbyist representing the hedgefund industry. How does this not demand that perhaps we DO need a 'wealth' tax?
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