It’s Good To Be The 0.1%
November 30, 2011 @ 2:24 pm
The Top 0.1% Of The Nation Earn Half Of All Capital Gains
Capital gains are the key ingredient of income disparity in the US - and the force behind the winner takes all mantra of our economic system. If you want even out earning power in the U.S, you have to raise the 15% capital gains tax.
Income and wealth disparities become even more absurd if we look at the top 0.1% of the nation's earners - rather than the more common 1%. The top 0.1% - about 315,000 individuals out of 315 million - are making about half of all capital gains on the sale of shares or property after 1 year; and these capital gains make up 60% of the income made by the Forbes 400.