<p>Why do presidential candidates(especially Democrats) constantly assert the imperativeness of heavily taxing hedge funds and similar financial institutions on Wall Street? I’ve always been under the impression that the United States is for promoting success and rewarding individuals who do attain it. Isn’t that what capitalism is all about?</p>
<p>Don’t get me wrong. I’m a democrat and I fully understand that the privileged have to be generous in alleviating living conditions amongst those who lack but why heavily tax the affluent when it’s rightfully gained? </p>
<p>Most hedge fund managers worked hard to get where they are and those who only got there because of “daddy’s connections” eventually wipe out their assets.</p>
<p>wrong subforum.
Answer is that you’re a wannabe-capitalist fool. </p>
<p>Many US Hedge funds already sidestep equal tax contribution by being domiciled quasi-legally offshore. And look at the UK, the other financial capital of the world, their capital gains tax system is already much more strict. And why should we “reward individuals who attain it”? Careful with your words. IMO, the United States is for 1. promoting a fair chance at success for every citizen and 2. especially rewarding those who innovate. Not (in theory) for rewarding the rich and successful throughout (Though this happens anyway as one might see in a study tracking the distribution of wealth in the U.S. over time). There is a gross proliferation of hedge fund and hedge fund wannabes with simply no innovation and ideas. The business model is old and creates no public value. Obviously profit margins will deteriorate in one of many ways, a small way being a tax system that doesn’t reward easy money. The bigger way being a lack of access to capital for the stupider wannabes. In short, my answer to your question can be summed up with “easy money only exists for short periods of time if at all.” But you’ll get your fair return, which will still be higher than average in the hedge fund industry. </p>
<p>Dude, what in my post warrants the need for name-calling? I’m simply asking for opinions on the issue. Only idiots, such as yourself, cannot make a point without the use of profanity or name-calling.</p>
<p>Republican? What good have they done for the US lately? I’m sure if you also had an investment fund, you’d be one of the firsts to move it offshore just like a good 'ol republican. Evading taxes and privatizing the economy.</p>
<p>George Bush is a republican. Bush’s term has not done much good for the U.S. Therefore republicans have not done much good for the U.S. faulty reasoning</p>
faulty reasoning</p>