I'm not confusing the issues. The poster said all corporations, so I aked him/her to name one...they haven't yet. Don't make a empty claim just to create fear and hate. Back up your claims.
BTW, I just saw some stats that show the top 60% of wage earners pay 99% of all federal income taxes, and the United States has the second highest corporate tax rates in the world. I wonder whose 1st?
Hedge funds are ingrained in our whole banking/economy system.
It is frightening.
As far as who PAYS TAXES IN THIS COUNTRY?
Individuals do. And the majority of them are middle class.
The following facts apply for the year 2000:
The richest 400 individuals in America had a "taxable" income of 151 million $ on average.
They paid 27% of their income toward taxes.
All other taxpayers had a taxable income of $34,600 and paid 40% of their income toward taxes.
Of course this doesn't include the 311 Billion dollars in tax fraud, and monies the wealthy have been able to "hide" in collective investment schemes.A recent Congressional study reported that 63% of US corporations paid no income taxes at all in 2000.
Income distribution in the United States is the most unequal among all developed nations, according to OECD data.
Prosperity that was supposed to ‘trickle down’ has instead flowed straight uphill. Between 1990 and 2000, the average CEO pay went up by 571% and corporate profits grew by 93% while worker pay barely stayed ahead of inflation.
Roughly 85% of stock market wealth is owned by 10% of American households and there is no logical reason why income from those investments (called “capital gains” by the tax code) should be taxed less than income from work. But the top tax rate on wages is 35% while the top tax rate on capital gains is only 15%. http://www.askquestions.org/articles/taxes/
It's all in the spin...
Did you know that George Soros runs a Hedge fund? The liberals pride and joy! Ironic? hypocritical?
Hedge funds have no party affiliation. The only requirements are that you be very wealthy.
Chelsea Clinton is employed by or manages a Hedge fund, I believe.