Wednesday, July 6, 2011

Closing The Hedge Fund Manager Tax Loophole Would Raise $4 Billion Annually From The 25 Richest Managers

This is a no-brainer. The top 25 hedge fund managers earned a total of $22 billion a year and are taxed at a lower rate—costing the government $4 billion—because the money is treated as capital gains, not income.

Closing The Hedge Fund Manager Tax Loophole Would Raise $4 Billion ...

Think Progress
In fact, according to calculation by RJ Eskow, closing this loophole would raise more than $4 billion per year just from the 25 richest hedge fund managers: ...


During the negotiations regarding raising the nation’s debt ceiling, congressional Republicans have gone to the mat to defend all manner of unwarranted tax breaks, including those for oil companies and corporate jet owners. Despite the drain on the Treasury caused by these tax breaks — and the negligible benefit they provide — Republicans have threatened to allow the nation to default on its obligations rather than abandon them...
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