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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (19220)	4/28/2011 10:18:32 AM
From: Jim McMannis	Read Replies (1) \| Respond to of 119361

Why are Ben, Tim and O helping them do it?

To: NOW who wrote (19220)	4/28/2011 10:43:03 AM
From: Les H	4 Recommendations Respond to of 119361

America’s wealthy got exponentially richer during the reign of Republicans and George W Bush. How much? The New York Times and Forbes reports the Richest 400 Americans earned more yet paid a lower tax rate and top earners on average pulled in $263 million each in 2006, according to the IRS. The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%–the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002. The IRS report demonstrates how valuable the low capital gains rate has been to the richest of the rich. In 2006, the top 400 realized $66 billion, or 63% of all their income, in net capital gains. The numbers for 2007 and 2008 are expected to be significantly higher. By contrast, Americans overall reported less than 10% of their adjusted gross income as coming from capital gains. The richest 400 reported 1.3% of all adjusted gross income but booked 8.5% of all net capital gains. The average richest Americans income over minimum wage gives a ratio over 20,000 to 1. The result: the top 5% of earners–those with an adjusted gross income of $153,542 or more–now pay a higher effective tax rate than the top 400, so do many Americans making less than $150,000. americaforpurchase.com