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Top 25 Hedge Fund Managers Make As Much As 440,000 Middle-Class Americans, But Still Get Tax Loophole

According to the latest statistics, CEO pay last year rose by 27 percent, while worker pay rose by just 2 percent. The median corporate CEO made $9 million last year, pushing CEO pay nearly back to its pre-recession level. But even CEO pay pales in comparison to that of hedge fund managers:
Last year was very lucrative for some of the biggest and best-performing hedge funds’ chiefs. Wealth was so concentrated that a mere 25 people pocketed a total of $22.07 billion, according to this year’s annual ranking by AR Magazine, which tracks the hedge fund industry. At $50,000 a year, it would take the salaries of 441,400 Americans to match that sum. Making matters worse, hedge fund managers benefit from preferential tax treatment that middle-income Americans don’t. Due to what’s known as the carried-interest loophole, the income that hedge fund managers receive if their funds make money is treated as capital gains — rather than ordinary income — and gets taxed at the capital gains rate of 15 percent. Even though the pay is performance-based compensation (just like any other performance-based bonus made by any other worker), hedge fund managers receive a tax break on that income.

http://wonkroom.thinkprogress.org/2011/04/01/hedge-fund-ineq...

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Let's make it fair

and make all income & capital gains tax 0%.

Long time reader - first time poster.

Do you have the slightest idea how much money....

...it must cost those poor CEOs and billionaires to lobby 'our' representatives for those perks? If you want the same 'representation' then you need to pay for it just like they do!