In 12 Years, Income For Richest 400 Americans Quadruples, Tax Rate Nearly Halved - ThinkProgress

[WillyT]

REPORT: In 12 Years, Income For Richest 400 Americans Quadruples, Tax Rate Nearly Halved
By Judd Legum - ThinkProgress
Apr 18th, 2011 at 9:45 am

<snip>

New data released by the IRS reveals that, over a period of 12 years, tax rates for the richest 400 Americans were effectively cut in half. In 1995, the richest 400 Americans paid, on average, 29.93% of their income in federal taxes. In 2007, the last year for which the IRS has released data, the richest 400 Americans paid just 16.63%





<snip>

More: http://thinkprogress.org/2011/04/18/tax-disparity-chart/

And check THIS out: http://www.patrioticmillionaires.org/

:wow:

:kick:

[virgogal]

1. And I'm here thinking about giving up my daily iced coffee treat

to save some money.

God.

[GreenPartyVoter]

6. Seriously!

[YellowRubberDuckie]

2. Dude, back in the 30s and 40s, the rich paid 90%...

...and they still lived high on the hog.
Take us back to just half of that.
You know I heard a blurb on NPR that the Obamas paid $443,000 in taxes on 107Million in income. They aren't bitching. That's 40%ish, isn't it? Just letting the Bush tax cuts expire would fix half the mess we are in with our credit rating.
Come on. Raise their taxes!
Duckie

[WillyT]

3. Oh, I Know... And I Agree...

:hi:

[YellowRubberDuckie]

9. Love it!

[robinlynne]

4. in a way, this is what all the wars, all the corruption, all the election thefts are about....

all of it, in a nutshell. From the oil spills, to the nuclear disasters. to the loss of animal species on earth.

[Curmudgeoness]

5. There is no justification for this. And, did you notice income jump

from 2006 to 2007 alone? Or, my god, the income jump over the last 5 fives on the chart? I am too disgusted to even think rationally right now.

:grr:

[bobbolink]

8. Wait 'til you see '08, '09, '10, etc. Its a story that is sure to get better.

Those bonuses will take care of it...

:nuke:

[Curmudgeoness]

10. That was my thought exactly. Too bad we have to wait years for info. nt

[bobbolink]

11. By the time we see those, it will be waaay too late. I think it is already too late.

I don't think there is a way to stop this train.

:cry: :nuke:

[Curmudgeoness]

12. I truly hope you are wrong. The train can run out of gas.

More sensible heads have to prevail at some point. Or at least, I am depending on this. There are only two options right now, get the tax structure more in line with historic levels, or bankrupt the country and we all lose---even the ones who are driving this train.

[bobbolink]

14. As I have said before, by the time "cooler heads prevail", I and many many others will be dead.

So, it really isn't our problem.

"First they came for the poor, but I wasn't poor........"

[RKP5637]

7. What more will it take for Americans to take "their" country back to "we the people?" n/t

[Terra Alta]

13. The rich get richer and pay less taxes.

Doncha just love capitalism? :eyes:

[JHB]

15. Repeal the Bus tax cuts...and Reagan cuts...and Kennedy cuts...