New York Times (April 3)
2010/ 04/ 03 by jd in Global News
Earnings of the 25 highest paid hedge fund managers soared to $25.3 billion in 2009. This record payday contrasts with the average American worker, whose most recent pay dropped to $18.90 per hour in March. What bothers the New York Times is that some money managers are taxed at just 15 percent for earnings treated as long-term capital gains. The newspaper argues that fund managers, like everyday workers, should be taxed at ordinary income rates which extend to 35%.
