Moyers & Company: Why Do Kindergarten Teachers Pay more Taxes Than Hedge Fund Managers?

The following is an excellent article written by Theresa Riley on the Moyers & Company website on September 17, 2015 titled “Why Do Kindergarten Teachers Pay More Taxes Than Hedge Fund Managers?” and I quote:

“Why Do Kindergarten Teachers Pay More Taxes Than Hedge Fund Managers?”

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That’s right — just 25 men managed to make more money in a year than all 157,800 kindergarten teachers in the entire country.

A popular meme that made the rounds last year revealed that the top 25 hedge fund managers in America made more money than all the kindergarten teachers combined. That’s right — just 25 men managed to take home more money in a year than all 157,800 kindergarten teachers in the entire country. These hedge fund managers make millions — sometimes billions — of dollars investing other people’s money with the expectation of realizing large capital gains. And a new video produced by Brave New Films points out an even greater absurdity: These millionaires and billionaires pay a lower tax rate than those teachers — and almost surely a lower rate than you, unless you’re part of the top .01 percent.

All this brings to mind a conversation Bill Moyers had in 2012, early on in Moyers & Company’s run, with former Reagan budget director David Stockman. The architect of President Ronald Reagan’s now infamous “trickle-down” economics policies, even Stockman thinks today’s Republicans have taken their anti-tax dogma too far. He told Bill he would like to see the elimination of the carried interest loophole, hedge fund managers’ primary route to reduced tax rates. “It’s really pretty shameful,” he told Bill.

“Taxes are the price we pay for civilization,” Stockman said, borrowing a quotation from Supreme Court Justice Oliver Wendell Holmes. “What they’re saying today is foolish, it’s irresponsible. How can anyone believe with the kind of deficit that we have — a trillion dollars, year after year after year — that we can keep taxes as low as they are?”

If you agree that the carried interest loophole should end, like or share Brave New Films’ video on Facebook, or tweet about it using the hashtag ##billionairesVSteachers.

Theresa Riley is the director of digital content & strategy at BillMoyers.com. She creates content and oversees the planning and execution of Bill Moyers’ social media strategy. She is an award-winning web producer and editor whose work has been featured on PBS Online and TIME.com.”
(I’M PUTTING THREE STORIES IN A ROW ABOUT HEDGE FUND DEALERS, JUST TO SHOW THE GENERAL PUBLIC THAT THE MEDIA IS DOING THEIR JOB BUT NOT OUR FEDERAL CONGRESS WHICH IS CONTROLLED BY THE REPUBLICANS WHICH IS KILLING EVERYTHING THAT PRES OBAMA WANTS TO DO.!!
LaVern Isely, progressive, Overtaxed, Independent Middle Class Taxpayer and Public Citizen Member and USAF Veteran
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About tim074

I'm a retired dairy farmer that was a member of the National Farmer's Organization (NFO). Before going farming, I spent 4 years in the United States Air Force where I saved up enough money to get my down payment to go farming. I also enjoy writing and reading biographies and I write about myself as well as articles and excerpts I find interesting. I'm specifically interested in finances, particularly in the banking industry because if it wasn't for help from my local Community Bank, I never could have started farming which I was successful at. So, I'm real interested in the Small Business Administration and I know they are the ones creating jobs. I have been a member of Common Cause and am now a member of Public Citizen as well as AARP. I have, in the past, written over 150 articles on the Obama Blog (my.barackobama.com) and I'd like to tie these two sites together. I'm also on Twitter, MySpace and Facebook and find these outlets terrifically interesting particularly what many of these people did concerning the uprising in the Arab world. I believe this is a smaller world than we think it is and my goal is to try to bring people together to live in peace because management needs labor like labor needs management. Up to now, that hasn't been so easy to find.
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