Can these guys do the math?

The US government just borrowed a trillion dollars for this fiscal year that ends 9/30.

Here's a media liberal crying about Obama not increasing taxes on hedge fund managers...........

Obama said he'd go along with spending cuts if the Republicans would agree to some tax hikes. He was negotiating from a position of strength. The Republicans controlled only the House. The Democrats had the White House, the Senate and, more importantly, the people. Poll after poll showed that a majority of Americans favored raising taxes on the wealthy.

But it was Obama who backed down.

This was a fight he could have won. Consider hedge fund managers. On their earnings, they pay at the capital gains rate of 15 percent. According to a story last week in the Toronto Star, the top 25 hedge fund managers took home an average of $880 million last year. According to that same story, closing the loophole for hedge fund managers would save the Treasury $20 billion over 10 years.

$20 Billion? Seriously? The US government just spent 20 billion in the time it takes to read this post. I just ads credence to the point that it's not revenue stupid.

Now I'm not a proponent of capital gains treatment for hedge fund managers. But do you think that am media member might want to ask the question as to why hedge funds are more prominent today than 20 years ago?

It's because of regulation. See a hedge fund is more or less a mutual fund for rich people. But since they're not publicly traded, the funds have much less regulatory mandates.

As a result, rich people escape all the regulatory costs (aka higher returns) that we working stiffs have to pay to invest in your vanilla variety mutual fund.

This writer wishes he would have voted for Billary. He should have considered voting for someone who would created an environment where we can all invest in hedge funds.

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