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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (125461)10/6/2000 1:19:07 AM
From: david_langston  Read Replies (1) of 1570517
 
Ted,

Wealthiest 1% is not necessarily the same as the highest income 1%.

The wealthy can simply buy tax-free municipal bonds. The income they derive may not qualify for the 1% level, but even if it does, they will not be paying any taxes. I'm not sure if this interest income would make it to the Treasury's income statistic because it is tax exempt.

Conversely a start-up entrepreneur may have a high income derived from exercised options, but no other real wealth.

Dave
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