Wednesday, February 20, 2008

Hillary Clinton doesn't think that working at a Hedge Fund is "real work."

"We also have to reward work more," Clinton told a small group of Ohio residents today. "and by that, I mean, I have people in New York working on Wall Street as investment managers, as hedge fund executives. Under the tax code, they can pay a lower percentage of their income in taxes on $50 million dollars, than a teacher, or a nurse, or a truck driver in Parma pays on $50,000. That's very discouraging to people."

Gee, Mrs. Clinton...what was your income tax rate on the millions you received for your book deals? Oh......right, you have refused to release your tax records. This whole thing is just her way of promising to raise taxes on the rich. When that guy (or gal) quits their $50 million a year job because the tax rate is too high (thanks to a President Clinton)to justify their spending 80 hours a week at the office and not with their family, where o where is the the government going to get their tax revenue? From the person making $50,000 a year.

Even if the person at the hedge fund manager pays a lower tax rate (presumably due to a portion of pay in the form of capital gains) he or she is still paying millions of dollars into the federal coffers. I am quite thankful to the hedge fund manager for paying those millions too, because it is money that is not coming out of my pocket. When he/she stops working and those millions are missing from the wallet of the US government, where is the government going to get its money? From me.

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