Phydeaux -> RE: Where are the non-partisan conservatives ? (5/10/2016 10:41:41 AM)
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ORIGINAL: MrRodgers quote:
ORIGINAL: DaddySatyr quote:
ORIGINAL: Blank101 It's sad how we've entered a time where certain wealthy people can now be classified as 'ultrawealthy'. I think it's sad that we've entered a time where working hard and staying focused to achieve a goal has become almost a crime. Talk about a disincentive to work. Michael Well there is no crime here. This is only a matter of a concocted special tax category that has no place in our state or federal tax regime. Plus, I want to know how much harder are [they] working than the person down the hall who can't claim his or her income is from something called 'carried interest'...whatever that is. Furthermore, the incentive to work is in the rewards...not the tax code. That's the original conservative ideology. Another reason it's so very difficult to find conservatives in Wash. They've all become rent-seekers. When a ship would trade in the 1600s, since the captain was crucial to the success of the voyage - both in choosing where to trade, how to get there etc, he was given a percentage of the profits. But only once the cargo was sold. Hedge managers get paid putatively on the same basis. That said - I am opposed to that basis, since in fact they are customarily paid on a yearly basis and since hedge fund managers are paid regardless of profit or loss (ie, there is no risk) his pay is indistinguishable from wages. The idea of carried interest being extended to hedge fund managers is anathema and ridiculous.
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