| Impulsivity said:
That is SUCH a lie. The hedge fund traders pay 15% capital gains on millions or even billions which is less then even someone making 20 something thousand a year. Super rich 10+ million dollar making CEO types pay 35% but DON'T pay any social security tax on most of their income (anything above 90k) meaning they pay around 36% effective tax with medicare/social security. Someone making around 90k pays over 40% between their around 30% income tax and paying the full ammount for social security/medicare on every dollar they earn. If they're an independent contractor or small business owner paying self employment tax makign 90k a year its more like 50% since they pay the ful 15% for self employment tax on every dollar. So a Hedge fund trader pays 15%, a CEO pays 38% but a mid level employee is paying 40% and a small bussiness owner is paying 50%. How are the super rich paying a disproportionate ammount?
It seems like the lower and middle classes are the ones paying too much, and Obama agrees (he says taxes will be lower for 95% of Americans, higher for 5%, which seems right to me).
This taxes are higher for everyone Republican talking point is BS, taxes are only higher for those who don't spend the extra money to improve the economy anyway. |
Do you even know what a Hedge fund or a hedge fund trader are?
A fund manager is an employee who works for a large financial firm and manages other people's investments; he pays the exact same income tax on his income that anyone else makes.
