Super Rich Made $345 Million Each in 2007 as Their Tax Rates Plummeted

[LoKnLoD]

The 400 wealthiest Americans have seen their annual incomes skyrocket over the last two decades while their tax rates have decreased dramatically, according to newly released data from the Internal Revenue Service. In fact, between 1992 to 2007, the annual incomes of this tiny club of über-rich increased seven-fold to a whopping $345 million on average, while their effective tax rate dropped by more than one-third from a 1995 peak of nearly 30%, the data shows.

"This just-disclosed data shows that government policy is concentrating incomes at the very top and steadily lowering their tax burden, thus shifting it on to Americans who in a lifetime don't make what these people make in a week," Johnston told DailyFinance.

http://www.dailyfinance.com/story/super-rich-made-344-million-each-in-2007-as-their-tax-rates-plu/19362705/

But no one will do a damn thing about it. They bitch about the deficit, but until they A) tax these people who have more than any human needs and B) cut military spending they can all STFU.

[pnwmom]

1. But $345 million isn't that rich.

Just kidding.

;)

[redqueen]

2. Damn. (nt)

[cbdo2007]

3. This already made the rounds here today and quickly vanished off the page....

Not sure why the DU community will freak out so much about the smallest, stupidest things sometimes but tell them someone making $350 Million per year is paying 10% less in taxes than they are and they pretty much ignore it.

This should be front page news and being discussed everywhere. There is no reasonable circumstance where I should have a salary of $70,000 and pay 25% in taxes while someone making $350 Million only pays 16.6%.

Maybe you should change the headline to "Most people making $350 Million + pay less taxes than you!!"

[Wilms]

5. I hear that. Earlier, kpetes MK-ULTRA thread was panned by some as "conspiracy theory".

Unreal.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=7727165&mesg_id=7727165

[zeos3]

4. Kick

[DFW]

6. Damn. I didn't make even half that.........

I'll just have to put in some overtime this year...........