Meanwhile...The Rich Get Richer

[kpete]

Buried in the business section of The New York Times, and virtually ignored in the public flogging of the Wall Street bonuses, we learn that the richest 400 people in the country socked away even more money:
http://www.nytimes.com/2009/01/30/business/30rich.html?ref=business

The income of the 400 wealthiest Americans swelled in 2006, soaring nearly 23 percent from the previous year, to an average of $263 million, according to data released Thursday by the Internal Revenue Service. Since 1996, this group has nearly doubled its share of all income earned in the United States.

The top 400 paid just more than $18 billion in federal income taxes in 2006, or an average of $45 million, on a record $105 billion in total income — the lowest effective tax rate in the 15 years since the agency began releasing such data.

That compares with nearly $1 trillion paid by all other individual taxpayers in 2006.

...the richest American are paying THE LOWEST EFFECTIVE TAX RATE since the IRS began giving out that data.

more at:
http://www.dailykos.com/storyonly/2009/1/30/8278/78711/704/690850

[lonestarnot]

1. When will we be putting a stop on this shit? And I'm not referring to the burial exercise.

[RUMMYisFROSTED]

2. Class war.

[SpiralHawk]

3. "Hip Hip Hoooray!" - Republicon Homelander fatcat cronies

"Too bad about you little people. SMIRK."

- Republicon Homelander fatcat cronies

[jtrockville]

4. Who was it that said...

Under republicans, the rich get richer and the poor get poorer.
Under democrats, the rich get richer and the poor get richer.

??

[GeorgeGist]

5. That's why the Rich invented the profit system.

It makes ordinary criminals look like Neanderthals.