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Sun Nov 25, 2012, 11:01 PM

"Ten Numbers the Rich Would Like Fudged" by Paul Bucheit at AlterNet

Ten Numbers the Rich Would Like Fudged

by Paul Bucheit at AlterNet

http://www.alternet.org/economy/ten-numbers-rich-would-fudged?paging=off

"SNIP.......................................

2. Only FOUR OUT OF 150 countries have more wealth inequality than us.

In a world listing compiled by a reputable research team (which nevertheless prompted double-checking), the U.S. has greater wealth inequality than every measured country in the world except for Namibia, Zimbabwe, Denmark, and Switzerland.

3. An amount equal to ONE-HALF the GDP is held untaxed overseas by rich Americans.

The Tax Justice Network estimated that between $21 and $32 trillion is hidden offshore, untaxed. With Americans making up 40% of the world's Ultra High Net Worth Individuals, that's $8 to $12 trillion in U.S. money stashed in far-off hiding places.

Based on a historical stock market return of 6%, up to $750 billion of income is lost to the U.S. every year, resulting in a tax loss of about $260 billion.

4. Corporations stopped paying HALF OF THEIR TAXES after the recession.

After paying an average of 22.5% from 1987 to 2008, corporations have paid an annual rate of 10% since. This represents a sudden $250 billion annual loss in taxes.

........................................SNIP"

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Reply "Ten Numbers the Rich Would Like Fudged" by Paul Bucheit at AlterNet (Original post)
applegrove Nov 2012 OP
NYC_SKP Nov 2012 #1
dreamnightwind Nov 2012 #2
Joe Shlabotnik Nov 2012 #3
n2doc Nov 2012 #4
Nye Bevan Nov 2012 #5

Response to applegrove (Original post)

Sun Nov 25, 2012, 11:09 PM

1. 6. Tax deductions for the rich could pay off 100 PERCENT of the deficit.

K/R

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Response to applegrove (Original post)

Mon Nov 26, 2012, 03:08 AM

2. Thanks, good article - nt

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Response to applegrove (Original post)

Mon Nov 26, 2012, 04:43 AM

3. Kicking and rec'ing

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Response to applegrove (Original post)

Mon Nov 26, 2012, 07:00 AM

4. mmmm.....fudge

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Response to applegrove (Original post)

Mon Nov 26, 2012, 07:44 AM

5. Interesting. Don't Denmark and Switzerland have universal health care,

and generous social programs?

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