Tax the Rich, Again !!!!

[thundley4]

Donnachaidh   (1000+ posts)             Sat May-14-11 07:48 PM
Original message
For Top 400 Taxpayers, a Near-Record Year
   
http://toomuchonline.org/weeklies2011/may162011.html

America's super rich, new IRS income data show, partied on right through the depth of the Great Recession. And they shared precious little of their good fortune with Uncle Sam.

In 2008, the IRS revealed last week, 400 Americans reported at least $110 million in income on their federal tax returns. These 400, in a year that ended with millions of Americans out of work and home, averaged $270.5 million each, the second-highest U.S. top 400 average income on record.

The IRS only started reporting top 400 income calculations in 2003, and the agency's official “top 400” totals just go back to 1992. But older IRS data reports do make top 400 estimates from some earlier years possible. And these earlier figures leave the latest IRS numbers in even starker relief.

In 1955, for instance, America's top 400 averaged — in 2008 dollars — $13.3 million. In other words, the top 400 in 2008 reported incomes that, after taking inflation into account, amounted to more than 20 times the incomes of America’s top 400 a half-century ago.

more at the link -- scroll halfway down the page --

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1103865

New thread but might be fun to watch.

400 x 270,500,000 = 108,200,000,000 or 108.2 billion .  Not even enough for 6 months of current spending.

[SSG Snuggle Bunny]

America's super rich, new IRS income data show, partied on right through the depth of the Great Recession.

Wasn't the entire liberal scheme for alleviating The Great Recession to pump money into the economy through spending?

pay particular attention to the president's exasperated attitude about the ridiculous GOP talking points: "[Y]ou get the argument, 'Well, this is not a stimulus bill, this is a spending bill.' What do you think a stimulus is? That's the whole point. No, seriously. That's the point."

http://www.washingtonmonthly.com/archives/individual/2009_02/016775.php

[jukin]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1103865

New thread but might be fun to watch.

400 x 270,500,000 = 108,200,000,000 or 108.2 billion .  Not even enough for 6 months of current spending.

If only. Obama and the democrats have worked very hard to get our deficit spending up to $5,000,000,000.00 per day. The 108 billion would only cover that deficit for 22 days.

[diesel driver]

 

The DUmp is rapidly becoming a one-song record with a crack in it.

[JohnnyReb]

Johnny does a slight rewrite on an old song.

"I said over and over and over again, we need to tax the rich.... aaaaand I said over and over........."