February 24, 2011
From the always useful Robert Reich:
Last year, America’s top thirteen hedge-fund managers earned an average of $1 billion each. One of them took home $5 billion. Much of their income is taxed as capital gains — at 15 percent — due to a tax loophole that Republican members of Congress have steadfastly guarded.
If the earnings of those thirteen hedge-fund managers were taxed as ordinary income, the revenues generated would pay the salaries and benefits of 300,000 teachers. Who is more valuable to our society — thirteen hedge-fund managers or 300,000 teachers? Let’s make the question even simpler. Who is more valuable: One hedge fund manager or one teacher?
Posted by Jerome Doolittle at February 24, 2011 05:42 PM
Reich's on target. What we need is a symbolic fighter like FDR. Thing is, the other side knows that and heads off any challenger like, say, Spitzer who might actually take on the true perpetrators. Or anyone like, say, Assange, who publishes the truth.
So perhaps it falls to us collectively to act, like the people in Egypt or Libya.
Hopefully, the rallies all over the country tomorrow will answer that question. I'll be in Providence, Rhode Island supporting southeastern New England teachers, workers and unions!
Hey, Pat! Where/when is this rally in Providence?
I was googling the other day trying to find information on such an event in Providence but was unsuccessful. I'll do that again now, but leave info here, please!
I found the info. I'll be the one with the little black and white dog.