A hedge-fund manager at a CNBC town hall meeting is upset about President Obama's tone toward irresponsibility on Wall Street contributing to the recent economic crisis and Obama's plan to allow the Bush tax cuts for the rich to expire in order to decrease the deficit. He asks the president when he will stop "whacking at the Wall Street piñata?"
Stewart replies: "I don't know - maybe when the f#cking candy comes out." And later adds: "You feel like the government is whacking you with a stick? Because what you call a stick, Americans call a trillion dollar bailout of your industry."
Stewart is expressing a common animosity and I can't help but agree with him. We are at 9.5% unemployment. 1 in 7 Americans is below the poverty line. People are suffering - for real. Can anyone explain to me how a hedge fund manager is justified in whining about a 3% tax increase in his income above $250,000 (from 36 to 39% - the same as under the prosperous Clinton years), especially given that his industry was saved by taxpayer money and given the millions of Americans truly suffering from the recession?
2 comments:
I don't know what else to say except that I agree with Kyle. it definitely seems that "regular" people have been taking the hit for the recession when it seemed to be caused by mistakes made by large firms. I guess that I just have to agree, it does seem silly to have a hedge fund manager whining about a three percent tax increase.
It would be a valid argument to say that a decrease in taxes on the most successful businesses would be a good idea since they are the ones hiring people, but this man has little to argue about for himself. I would have to agree and add that this increase on taxes for the wealthiest is extremely important to slowing down the national debt and balancing the budget.
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