Sanding our assholes with 150 grit.

.1% income vs. marginal tax rate

http://www.visualizingeconomics.com/2007/03/24/us-income-of-top-01-percent-vs-marginal-tax-rate/

why are the rich so rich?

lower taxes.
Permalink 94% 
April 14th, 2007 7:35pm
The rich are so rich because they own lots of securities.  Thus they don't get much "income", most of their money is from capital gains.

Now, how they got there, and how they stay there, is another story.
Permalink SaveTheHubble 
April 14th, 2007 7:53pm
the graph is the % of income going to the top .1%

that has grown in the past 20 years.

your explanation about securities, well it might be true, doesn't apply.
Permalink  
April 14th, 2007 8:02pm
Why wouldn't it be true? Capital begets capital. If the tax rate isn't high enough it get bigger year to year, compared to wage increases.
Permalink Send private email strawberry snowflake 
April 14th, 2007 8:08pm
Er, I meant why wouldn't it apply.

Anyway, Americans ... top off that 2006 IRA on Monday.
Permalink Send private email strawberry snowflake 
April 14th, 2007 8:09pm
the graph is about income

STH said "hus they don't get much "income""

well, unless he ment they do get much income

his reasoning doesn't apply to this graph
Permalink  
April 14th, 2007 8:12pm
That chart has so many assumptions and ambiguities it's laughable.

The chart only displays approx. 2% change from just over 7% to a peak at 9.9% (but a realistic top of 8.6%). They don't tell you, but I'm going to assume, income is pre-tax income. How are we to know taxes weren't raised to make up for flagging government income? There's nothing in there about either the economy as a whole or the tax rate on the rest of the country, and so on and so forth.
Permalink Send private email Сергей РахманиноB 
April 14th, 2007 8:17pm
it's just a graph, not a research paper.

now as a graph it still has its problems

I was a little annoyed that the low stretch 50s-70s has no label.

where are you getting 7% ?  from the left hand 7%?  it's orange. does it refer to a tax rate or a share of income %?
Permalink  
April 14th, 2007 8:22pm
Here's a writeup on private equity firms which has finally explained to this prole what they are and what they do:

http://www.bloomberg.com/apps/news?pid=20601039&sid=a0wzLWr5Lbm8&refer=columnist_lewis
Permalink trollop 
April 15th, 2007 12:39am

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