Saturday, February 18, 2012

A Thousand Words, Vol.1, Issue 3.

In America, you could be in the top 400 of income "earners" and pay an effective tax rate that is between zero and ten percent.  Follow me over the jump to learn more about the top 400 "earners" in America.

You can view a picture of this intense inequity here.

Here is a passage from James B. Stewart's column that explains the aforementioned picture:

Mitt Romney is not alone. I thought Mr. Romney’s 13.9 percent federal tax rate would be hard to beat. But among the 400 Americans with the highest adjusted gross incomes in 2008, 30 of them paid less than 10 percent and another 101 paid less than 15 percent. And these people earned, on average, more than 10 times Mr. Romney’s $21.7 million — an average of $270.5 million each. 
Stewart, James. B.. "Common Sense: Working All Day For the I.R.S.." The New York Times 17 February, 2012: online edition.

Related information:

Associated Press. "[U.S. Supreme] Court Blocks Campaign Spending Limits." The New York Times 18 February, 2012: online edition. 

State of Montana argument against a requested SCOTUS stay of Montana Supreme Court's order (PDF).

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