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One of the stories that I tell in Free Lunch when I talk about the hedge fund business in the United States and the hedge fund managers who pay taxes… - David Cay Johnston
" "One of the stories that I tell in Free Lunch when I talk about the hedge fund business in the United States and the hedge fund managers who pay taxes at the same rate as janitors... a 15% tax rate on their incomes... The average hedge fund manager in 2006, remember the hedge fund managers keep telling us that if you raise our taxes the whole economy be negatively affected, said that it was not fair to have them pay more than a 15% rate. Of course, school teachers and reporters pay 25% or 31%. Well-to-do Americans pay 35% and... the top hedge fund manager's average income was only $11 million... a week! But they can't afford the taxes.
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About David Cay Johnston
(born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 , and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for , writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for and , and is the board president of , Inc. (IRE).
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Birth Name:
David Cay Boyle Johnston
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DC Report
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[L]ess than a century after its adoption, the tax system is being turned on its head. Since at least 1983 it has become the explicit, but unstated, policy... to let the richest Americans pay a smaller portion of their incomes in taxes and to defer more of their taxes... a stealth tax cut, while collecting more in taxes from... the middle class.
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