"Hedge Fund Billionaires vs Teachers" is a new short film by Robert Greenwald of "Outfoxed" fame ( the film that exposed the fact that Fox is not a news channel but a conservative propaganda channel) and his production company is called "Brave New Films".
The film reveals the shameful fact that the "top 25 hedge fund managers in the USA make more than all kindergarten teachers in the country combined. These investors make millions - sometimes billions - of dollars investing borrowed money in hopes of realizing large capital gains. But what is most absurd is that these millionaires and billionaires pay a lower tax rate than kindergarten teachers -– and very likely a lower rate than YOU!"
The hedge fund managers pay less tax than many working class Americans because of a loophole in the taxation system called "carried interest".
The producers of Brave New Films say:
"We wanted to know what kindergarten teachers thought about this insane disparity, so we talked to them. And the consensus is clear – this must end!
So together we are calling on all 2016 presidential candidates to commit to closing the carried interest loophole within their first 100 days of office. If we closed this tax loophole and taxed hedge fund managers like we tax teachers and every other American, we would generate $17.7 billion over a decade.
This is money that could go to public education – and into normal working American’s tax breaks! Join us to call on all 2016 presidential candidates to commit to closing the carried interest loophole within their first 100 days of office."
The premiere of the film was live screened to an audience at Pace University in New York and the introduction of this important issue was led by Mayor Bill de Blasio who has also campaigned on the topic.
There was a good discussion after the film was screened and I urge all our readers to take time to watch the video which I have posted below. Readers might also consider contacting your favoured presidential candidate to ask what he or she is going to do about closing this ridiculous loophole.