ALERT: Close the Multi-Millionaire Tax Loophole

From AFL-CIO Working Families E-Activist Network

Get this: The top 25 hedge fund partners earned more than $14 billion in 2006. That’s as much as all of New York City’s 80,000 public school teachers earned over nearly three years.

But these hedge fund partners pay a mere fraction of the federal taxes that the teachers pay on their income. And they avoid the 15.3 percent Social Security and Medicare taxes that teachers, firefighters, police officers and other working Americans pay on their wages.

The Levin-Rangel bill (H.R. 2834) would close this loophole and appropriately tax the "carried interest" from partnerships as compensation.

Tell your congressional representative to support H.R. 2834 and prevent these multi-millionaires from gaming the system: