hedge fund manager to pay HIGHER tax rate then plumber or teacher..!

Discussion in 'Politics' started by healthmyths, Oct 1, 2011.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    Obama said:
    "I reject the idea that asking a hedge fund manager to pay the same tax rate as a plumber or a teacher is class warfare."

    1) Hedge fund managers only pay 15% income tax.
    http://www.crimeandfederalism.com/2010/04/hedge-fund-billionaires-pay-lowest-income-tax-rates.html

    Which is higher 15% or 9.6% teachers paid or 5.6% plumbers PAID?
    These are the REAL numbers...not guesses but exactly what was paid!

    Download this .xls file for 2008 tax returns and the REAL amount paid in taxes.According to the IRS:
    SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income

    The actual taxes paid by an average plumber in 2009 was 5.6% on $50,000
    The actual taxes paid by an average teacher in 2009 was 9.2% on $52,000

    Plumbers, Pipefitters, and Steamfitters

    Teachers
    There are a Total of : 1,485,600 Elementary School Teachers,
    Their Mean Annual Wage: $54,330 per elementary teacher.

    Plumbers:
    According to the department of labor
    There are total plumbers: 358,790 and
    their Mean annual wage $50,360 per plumber.
     
  2. Toro
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    Toro Diamond Member

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    What is the marginal rate of each?
     
  3. DontBeStupid
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    DontBeStupid Look it up!

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    Don't hedge fund managers pay 0% in payroll taxes?
     
  4. healthmyths
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    healthmyths Gold Member Supporting Member

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    All I did was look at this tax table of real taxes paid by real people!
    SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income
    Deal with REAL facts.. and that is 15% is the rate fund managers paid if they made more then $1 million reported to IRS!
    on incomes over $500,000 there were in 898,912 returns in 2008.
    These returns paid $342 billion on the reported $1.265 trillion!
    Any dummy can divide $342 billion in PAID taxes by $1.265 trillion and you find that those evil wealth fund managers included in making over $500,000.. PAID
    27.09% taxes!
    LOOK IT UP!
    Like Obama you are looking at the tax tables..
    LOOK at the reality of what was paid!!!
    Go look up the tax tables instead of guessing or worse being so absolutely ignorant!
    Make an effort and you won't look so stupid!
     
  5. Charles_Main
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    Charles_Main AR15 Owner

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    The Hedge Fund Managers and ANYONE who has investments or is retired living of Capital Gains.

    Even Buffet backed off the Buffet rule this week. he clarified and said he means we should raise Taxes only on the Super rich, He said 50 Million a year and Above. Said it would raise 20 Billion a year.
     
  6. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "Dat's right - lock him up an' throw away the key...
    :clap2:
    Hedge fund exec gets 11 years for insider trading
    Thu Oct 13,`11 – Raj Rajaratnam, the hedge fund billionaire at the center of the biggest insider-trading case in U.S. history, was sentenced Thursday to 11 years behind bars — the stiffest punishment ever handed out for the crime.
     
  7. healthmyths
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    healthmyths Gold Member Supporting Member

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    So you realize you are if you get registered investments tips from your brother-in-law liable just as this fund manager is to being convicted.

    The laws were broken and the manager convicted. Great!
     
  8. 8537
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    8537 Senior Member

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    Hedge fund managers aren't living on capital gains. They are paid commissions etc...and they are not risking their own capital. Why should risking someone else's capital get you a lower tax rate?
     
  9. editec
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    editec Mr. Forgot-it-All

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    The 2008 median salary (and bonuses) of the CEOs of the top ten Hedge fund firms on Wall Street was


    $2,500,000,000

    FYI that sum amounts to the 2011 median annual combined family income of more than

    50,000 US FAMILIES
     
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    Last edited: Oct 14, 2011
  10. Moonglow
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    Moonglow Diamond Member

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    is the plumber self employed?
     

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