Posted on 12/09/2010 7:47:28 AM PST by SeekAndFind
AGI
|
2007
|
2008
|
Change
|
Under $200,000
|
105,995,320
|
103,618,393
|
-2.2%
|
$40K to $200K
|
55,350,570
|
55,414,032
|
+0.1%
|
Over $200,000
|
4,527,350
|
4,359,936
|
-3.7%
|
Over $1,000,000
|
391,432
|
319,432
|
-18.5%
|
AGI
|
2007
|
2008
|
Change
|
Under $200,000
|
$3,615
|
$3,592
|
-0.6%
|
$40K to $200K
|
$3,063
|
$3,067
|
+0.1%
|
Over $200,000
|
$2,449
|
$2,061
|
-15.8%
|
Over $1,000,000
|
$1,245
|
$938
|
-24.6%
|
AGI
|
2007
|
2008
|
Change
|
Under $200,000
|
$551
|
$550
|
-0.2%
|
$40K to $200K
|
$486
|
$488
|
+0.4%
|
Over $200,000
|
$604
|
$531
|
-12.0%
|
Over $1,000,000
|
$315
|
$255
|
-19.1%
|
Like: “DUH!”
You’d think the Leftards would learn.
Of course they are LEFTARDS (Leftist & Retard = LEFTARD)
We finally ran out of other peoples’ money. :)
I think that he's postulating that the "super-rich" (1 million and up) *lost* money. While that's likely true, I'd add that people in this bracket largely have the capability to choose where they'd like to live, whether or not to defer income, a whole host of better tax shelters, and so on.
I'd argue that, in part, incomes went down for this sector as much by choice as by economic impact.
Even though the author has confused the terms “wealth” and “income”, the wealth of the average American has most definitely taken a huge hit. Many people have lost their jobs and have been forced to use their savings to pay bills.
People are less able to pay off debt today, as proven by page after page of foreclosure notices in newspapers across the country. Their debt cancels out any savings or IRA’s those not in foreclosure might still have.
Investors, despite glowing reports from the media, have lost enormous percentages of their net worth, their “wealth”, in the Wall Street drops from the highs of 2006-2007.
I dunno about you, but I don't have that kind of cash. I'd love to have access to that type of banking. However, denying Uncle Sam his cut of my paltry salary will hardly bankrupt the feds. Maybe the Fed would take a bigger hit from the corporate tax side?
I want my Obama money...
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