The Hedge Fund Class and the French Revolution

HatTip to Godspy

“Is it right or even admissible in the human conscience that while teachers, emergency room technicians, police and firefighters are taxed at full earned-income rates — and often underpaid — that the highest-earning people in this country should pay at either very low tax rates or none at all? …[O]ne of the causes of the French Revolution was the sad truth that the aristocracy was not taxed at all, while the workers and burghers were taxed highly. Is this our future? Let’s keep it real: Congress can take notice of a mammoth inequity in taxation during wartime and make the tax on private equity and hedge funds approximate the treatment of other highly paid people — or it can continue down the road to the Bastille.” [NY Times]