I mentioned a few days ago that Wall Streets 2013 bonus pool, handed out a few months ago, was so big it could have doubled the wage of every minimum-wage worker in America -- and that the pool was itself the result of a hidden subsidy from taxpayers to Wall Street. Below Ive listed the incomes of the Streets top hedge-fund managers (the data are from 2010, the most complete available), on an hourly basis. Remember they get a $12 billion-per-year taxpayer subsidy in the form of the carried-interest loophole that allows them to treat this income as capital gains rather than ordinary income. When you hear that minimum-wage workers, now receiving $7.25 an hour, arent worth any more than that, keep all this in mind.
Posted on: Sat, 15 Mar 2014 16:17:59 +0000
Trending Topics
Recently Viewed Topics
© 2015