How the Richest 400 People in America Got So Rich

[R-14Driver]

In 1992, the 400th richest person in America made $24 million.

In 2007, the 400th richest person in America made $138 million (or $87 million, inflation-adjusted).

Now, that almost certainly wasn't the same guy. There's a lot of churn at the top of the money pyramid. In all of the 1990s, only 25% of the Fortunate 400 made more than one appearance. But the overall message is the same. The rich keep getting richer.

According to the IRS, which recently released 2009 data from the 400 richest individual income tax returns, the real runaway growth in wealth has come from capital gains. In the last years of the bubble, the "Fortunate 400" made nearly half their income from capital gains (a.k.a.: profit from the rising value of an investment, such as stocks or property) and less than 10% of their income from old-fashioned wages.

The average income of a top-400 earner grew by 650% between 1992 and 2007 to a whopping $344 million. Over that time, the average salary didn't even double. But the average capital gains haul increased by 1,200%. So how do the richest get richer? Not from their wages. From their investments.....................

How the Richest 400 People in America Got So Rich - Yahoo! Finance


The above is what's called a news article below are my thoughts .

Now this just cant be true because according to most on here we cant tax the rich because all they do 24/7 is create jobs !

[Magoo]

Obviously a pretender using a dollar bill




I wanna be rich some day





"Now this just cant be true because according to most on here we cant tax the rich because all they do 24/7 is create jobs !"

actually I think their busy day & night dreaming up ways to screw everyone else

[jimmy g]

In 1992, the 400th richest person in America made $24 million.

In 2007, the 400th richest person in America made $138 million (or $87 million, inflation-adjusted).

Now, that almost certainly wasn't the same guy. There's a lot of churn at the top of the money pyramid. In all of the 1990s, only 25% of the Fortunate 400 made more than one appearance. But the overall message is the same. The rich keep getting richer.

According to the IRS, which recently released 2009 data from the 400 richest individual income tax returns, the real runaway growth in wealth has come from capital gains. In the last years of the bubble, the "Fortunate 400" made nearly half their income from capital gains (a.k.a.: profit from the rising value of an investment, such as stocks or property) and less than 10% of their income from old-fashioned wages.

The average income of a top-400 earner grew by 650% between 1992 and 2007 to a whopping $344 million. Over that time, the average salary didn't even double. But the average capital gains haul increased by 1,200%. So how do the richest get richer? Not from their wages. From their investments.....................

How the Richest 400 People in America Got So Rich - Yahoo! Finance


The above is what's called a news article below are my thoughts .

Now this just cant be true because according to most on here we cant tax the rich because all they do 24/7 is create jobs !

And the point is??????????????

[Guardrail]

Shame on the rich for making good investments and actually planning for the future. While the rich don't create jobs 24/7, I've never seen a poor person create any jobs. (Unless you count government jobs created to take care of the poor.)

[cmsdock]

Shame on the rich for making good investments and actually planning for the future. While the rich don't create jobs 24/7, I've never seen a poor person create any jobs. (Unless you count government jobs created to take care of the poor.)

Exactly. The left hates capitalism and wants everyone to suffer and be poor.

[R-14Driver]

And the point is??????????????

Man that's pretty cool . I just might have to start using that . Let's see where should I start

[R-14Driver]

So can we now tax them at the same rate you are tax ?

Shame on the rich for making good investments and actually planning for the future. While the rich don't create jobs 24/7, I've never seen a poor person create any jobs. (Unless you count government jobs created to take care of the poor.)

[Magoo]

If you want to pretend your rich go to the movies
Your members of the working class men no sense taking leave of your senses
Your never going to be rich, you have a better chance getting hit by lightning
Now keep a stiff upper lip and carry on

[R-14Driver]

Exactly. The left hates capitalism and wants everyone to suffer and be poor.

And the point is?????????????? Wow that's fun

[jimmy g]

So can we now tax them at the same rate you are tax ?

I hope so; end taxing income- go with the Fair Tax!


Capital gains taxes are on money that was invested. The invested money was already taxed. So it's actually then sort of double-taxed....