Forbes:The Top 0.1% Of The Nation Earn Half Of All Capital Gains

[Douglas Carpenter]

The Top 0.1% Of The Nation Earn Half Of All Capital Gains

http://l1.yimg.com/bt/api/res/1.2/kzwN53D9jPMekWwQvPht7Q--/YXBwaWQ9eW5ld3M7Zmk9Zml0O2g9Mjc-/

By Robert Lenzner | Forbes

Income and wealth disparities become even more absurd if we look at the top 0.1% of the nation's earners-- rather than the more common 1%. The top 0.1%-- about 315,000 individuals out of 315 million-- are making about half of all capital gains on the sale of shares or property after 1 year; and these capital gains make up 60% of the income made by the Forbes 400.

snip:

The reduction in the tax from 20% to 15% continued the step-by-step tradition of cutting this tax to create more wealth. It had first been reduced from 35% in 1978 at a time of stock market and economic stagnation to 28% . Again 1981, at the start of the Reagan era, it was reduced again to 20%-- raised back to 28% in 1987, on the eve of the October 19 232% crash in the market. In 1997 Clinton agreed to reduce it back to 20%, which move was an inducement for the explosion of hedge funds and private equity firms-- the most "rapidly rising cohort within the top 1 per cent

snip:

No wonder the super wealthy plutocrats obtained the largest share of national income-- 25% of the nation's wealth- greater than any other industrial nation in the the period of 1979 to 2005. Make no mistake; after unemployment-- this disparity between the 1%-- 3 million-- or the 0.1%-- the 300,000-- and the other 312 million citizens of the U.S. has become the major theme of the Occupy Wall Street movement-- and an important national debate.

I commend you to the late Justice Louis Brandeis warning to the nation that " We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both." We have to make up our minds to restore a higher, fairer capital gains tax to the wealthiest investor class-- or ultimately face increased social unrest.

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read full article:

http://news.yahoo.com/top-0-1-nation-earn-half-capital-gains-172647859.html

[LonePirate]

1. This is why capital gains should be taxed as ordinary income for everyone.

[high density]

2. Right, this is the tax that the "starve the beast" campaign wants to lower to zero.

The facts are clear according to the Congressional Budget Office more than 80% of the increase in income inequality was the result of an increase in the share of household income from capital gains.

[highplainsdem]

3. K&R

[PETRUS]

4. K&R

[WildNovember]

5. Explains capital gains taxes & how they profit by blowing bubbles and popping them.

Sell the bubble-ated properties, buy them back in the bust, pocket the difference.

[roseBudd]

6. DUers share this on your facebook wall for the 99%

[progressoid]

7. Fuck

:grr: