The poor, misunderstood rich

My good friend Walt Calahan sent the following this morning:

Here's a good read from the NY Times:

Congress Weighs End to Private Equity Tax Break

The most telling line about the rich is this:

"The industry argues that the portion of profits they receive from investments should receive preferential treatment because of the risk involved."

Since when in capitalism do we give preferential tax treatment because of 'Risk"?

The reason the reward is so large is because of the "Risk." With great "Risk" is the potential for great "Failure."

If the rich want the big return, they should also expect big losses too.

They want it both ways. I say tax the mother-f*ç/ers. The dirt bags. They make more money in a week than I'll make in 100 life times.

I'm just saying. Grin.

W

I so agree.