Chelsea Clinton works for a hedge fund, but her mother has been attacking investment banks in her newly-populist speechifying, as not being real "work." And good for her:
"We also have to reward work more," Clinton told a small group of
Ohio residents today. "and by that, I mean, I have people in New York
working on Wall Street as investment managers, as hedge fund
executives. Under the tax code, they can pay a lower percentage of
their income in taxes on $50 million dollars, than a teacher, or a
nurse, or a truck driver in Parma pays on $50,000. That’s very
discouraging to people."You just feel like, ‘wait a minute. I’m working as hard as I can.’
All those people you see in your law office. They’re working as hard as
they can and they feel like they’re just getting further and further
behind," Clinton said.
Richard Witty has made the same point to me: that our tax code punishes people who work or take risks as entrepreneurs in favor of speculators, whose profits are taxed at a much lower rate. How great that Hillary is taking on these values/policy issues. Sure hope they rub off on her daughter. What a pity that someone so privileged should go to work in that line. I suppose Hillary can blame the zeitgeist.
