Richest Are Leaving Even the Rich Far Behind
Posted by Jeff November 01, 2006
The NYTimes breaks down the rise of the super-rich, and how tax breaks have benefited them:
- Those earning more than $10 million a year now pay a lesser share of their income in these taxes than those making $100,000 to $200,000
- Economic mobility - moving from one income group to another over a lifetime - has actually stopped rising in the United States, researchers say. Some recent studies suggest it has even declined over the last generation.
- An Internal Revenue Service study found that the only taxpayers whose share of taxes declined in 2001 and 2002 were those in the top 0.1 percent.
Why does Bush hate the middle class?
