Its insane that a NYC cop has a higher tax rate than a hedge fund manager. Oh wait, forgot that hedge fund managers are job creators. |
It’s also not true. Most hedge funds work in short-term instruments and are not benefiting from preferential capital gains rates. |
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You can’t if your incone is from wages.
Rich people can take advantage of the tax code because all the loopholes involve investment income. It’s why Warren Buffet issued his tax challenge - He will give 1million to any CEO who pays a higher tax rate than their secretary. It’s telking that nobody’s taken him up on it. |