The Oligarchy is striking back. First we have John Paulson who made his billions by actively helping the housing market to collapse, bringing the larger economy crashing down around it in a massive wave of job losses, tell us what an upstanding citizen he is because he pays a preferential low tax rate on his ill gotten hoard. Paulson made about $5 billion last year.
December 26, 2011
By Max Abelson
Paulson, the New York hedge-fund manager who became a billionaire by betting against the U.S. housing market, has also said the rich benefit society.
“The top 1 percent of New Yorkers pay over 40 percent of all income taxes,” Paulson & Co. said in an e-mailed statement on Oct. 11, the day Occupy Wall Street protesters left a mock tax-refund check at its president’s Upper East Side townhouse.
‘Going to Vomit’
Tom Golisano, billionaire founder of payroll processer Paychex Inc. and a former New York gubernatorial candidate, said in an interview this month that while there are examples of excess, it’s “ridiculous” to blame everyone who is rich.
“If I hear a politician use the term ‘paying your fair share’ one more time, I’m going to vomit,” said Golisano, who turned 70 last month, celebrating the birthday with girlfriend Monica Seles, the former tennis star who won nine Grand Slam singles titles.