13 April 2010

Obscene Salaries

If there was any doubt in your mind as to why Wall Street has a serious disconnect with the rest of America, this should settle that doubt. It seems that hedge fund managers have set a new record in incomes. The top 25 hedge fund managers made over $25.3 billion last year. Here are the top four earners:

David Tepper..........$4.0 billion

George Soros..........$3.3 billion

James Simons..........$2.5 billion

John Paulson..........$2.3 billion

At a time when millions have lost their jobs and are existing on a pittance from unemployment income, and millions more have no income because their unemployment benefits have run out, this is just obscene. It shows just how out of whack our economic system has become.

And I don't want to hear how these men deserve to pay lower taxes. Personally, I think we need to raise taxes on anyone making over a million dollars a year. And anyone making over a billion dollars should have their taxes raised substantially.

Ain't capitalism grand? Millions of people suffer so a few can have obscene incomes.
Posted by Ted McLaughlin

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