I.R.S. Says Americans' Income Shrank for 2 Consecutive Years

[Kokonoe]

http://www.nytimes.com/2004/07/29/business/29tax.html ...............The total adjusted gross income on tax returns fell 5.1 percent, to just over $6 trillion in 2002, the most recent year for which data is available, from $6.35 trillion in 2000. Because of population growth, average incomes declined even more, by 5.7 percent.

Adjusted for inflation, the income of all Americans fell 9.2 percent from 2000 to 2002, according to the new I.R.S. data....................More than 352,000 taxpayers, one of every eight who had worked their way above $200,000 of income in 2000, fell below that figure in 2002.

At the very top the ranks thinned by more than half. The number of taxpayers reporting adjusted gross income of $10 million or more fell to 5,280 from 11,215.

The combined income of this rich and thin slice of Americans plummeted 63 percent, to $110 billion, in 2002 from $300 billion in 2000. Among those who stayed in this category average annual income fell 22 percent, to $20.9 million from almost $26.8 million in 2000.

[Trillo]

1. And yet, CEO pay has doubled. nt

[Eurobabe]

2. and half of this country (+ or -) wants to re-select

these idiots? I just don't get it. Must be the CEOs they are polling for Bu$h.

[cthrumatrix]

3. and awol does not want to incease the $5.15 min wage

[KoKo]

4. Interesting you have the same signature as myself...but I'm KoKo01

hmmm.

[Kokonoe]

5. Ohh

I was going to use kokono ,but went koko for short, Don't know why.

[havocmom]

6. Rove gonna accuse the IRS of being a liberal propaganda organization?

:+ any minute now, I'm sure.

[tom_paine]

7. Of course it did. You think an Orwellian Empire like Amerika tending

towards a brutal Big Brother Totalitarianism would have any other effect?

Once again, confirmation of the obvious...

[Moderator]

8. duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=714408&mesg_id=714408