Thursday, April 30, 2015

Billionaire Hypocrisy: George Soros May Owe $7 Billion In Taxes

Zero Hedge
April 29, 2015

“You support President Obama’s proposal to increase taxes on the wealthy?” That was the question put to George Soros on CNN some three years ago. Here was his answer:

“Yes, very much… the super bubble really resulted in creating a great increase in inequality, and now we have the after effect where you have slow growth, but if you could have better distribution of income, then the average American would actually be better off.”

There’s no question that “everyday Americans” (as a reminder, those are the people Hillary Clinton wants to help by running for president… well, those people and perhaps a few foreign governments and any investment bank who is willing to pay her husband six figures for a speech) would be better off if they got a larger piece of the pie, but as we’ve seen over the past several months, that’s not likely to happen as wage growth declines for the 80% of American workers classified by the BLS as “non-supervisory” even as the country’s supervisors see their pay increase, and as Fed policy continues to inflate the assets most likely to be concentrated in the hands of the wealthy. As this sad reality continues to play itself out destroying the American Middle Class in the process, we wondered if Soros was doing his best to ameliorate the situation by redistributing more of his vast wealth to the very same “average Americans” about which he expressed so much concern in 2012. The short answer: no.

Continue reading here:
http://www.zerohedge.com/news/2015-04-30/billionaire-hypocrisy-soros-may-owe-7-billion-taxes

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