Maybe you missed this news item:
Last year 25 of the principal U. S. hedge fund managers gave themselves a 50%
pay increase—they took home about $21 billion.
Never mind that their hedge funds overall didn’t do nearly as well as
the general stock market, for the fifth year in a row.
Never mind that these 25 hedge fund honchos paid themselves more than
the annual payroll of New York City’s 200,000 public school teachers.
Never mind the subpar returns for the investors who ponied up $2.7
trillion for these robber barons to manage.
The highest paid hedge fund manager paid himself $3.5 billion. He’s not
worth it.
Some people have too much money.
Congress at least should revoke the tax break that lets hedge fund
managers pay a special low tax rate on this shamefully undeserved income.
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