IRS: 235,413 million-dollar earners

President Barack Obama and many Democrats are talking about raising taxes on the wealthy, and data released this week by the Internal Revenue Service offers new details about the number of Americans who fit that bill.

People and households earning $1 million or more annually made up just 0.1 percent, or just over 235,000, of the 140 million tax returns filed in 2009, and just 8,274 returns were filed by people making $10 million or more.


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The vast majority of tax return filers — more than 97 percent — reported incomes of less than $200,000. The average income was $54,283, a drop of more than $3,500, or 6 percent, from 2008. That put the average income at its lowest level since 1997.

http://www.politico.com/news/stories/0811/60717.html




The most disturbing thing about this is that average income has dropped so far!!!

I read yesterday that over 1400 of these paid NO tax in 2010.

to that too, from a corporate standpoint. 5.1 billion in profit, zero taxes.

1400 didn't pay any income taxes? That is an unbelievable shame!

Question: Why do you think U.S. tax code is 71,684 pages in length?

Answer: So that they can have more of these § and these ¶.

If you are rich and powerful, you get to write the rules. Thus, K-Street will ensure that one of those little thingys above, that was written by you and for the benefit of you, is on one of those pages.

What...? One of your's is not in there? Uh-oh...

Another question: Why do you think 1% of the population controls 38% of the wealth?

Answer: Because our fedgov Representatives let them have it. They let the K-Street boys turn our free-market economy into a tightly controlled-market economy, that benefits their contributors and restricts the rest of us.

And the yields are high enough that even tax exempt entities are starting to buy them.

As far as I am concerned the tax code is beyond ridiculous.