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I ran across an article over at AlterNet covering the earnings of the top hedge fund managers and the average middle-class household earnings in comparison. Not a pretty picture when you consider that the fund managers and all of that wealth does nothing to add to the American economy as far as goods and such.
Just take a look at the latest reports on what the top hedge fund managers haul in. In 2010 John Paulson led the list with a record $4.9 billion in personal earnings. That’s a whopping $2.4 million an HOUR. Here’s a factoid to make you wretch: It would take the median US household over 47 years to earn as much as Paulson pocketed in just 60 minutes. And, every hedge fund manager pays a lower tax rate than the average family.
