Half Of All Capitol Gains Go To 1%

Thursday, November 24, 2011
Robert Lenzner, Forbes.com
Submitted by: T. Hawkins

The Bush tax reduction on capital gains and dividend income in 2003 is the key factor driving the incredible increase in wealth disparity in the United States.

[Forbes] 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.

Who have been the primary beneficiaries of Bush largess? Corporate executives, Wall St. professionals and monied entrepreneurs.

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Posted by Editor on 11/24/11 at 05:03 AM • (0) Comments

Tags: wall street, wealth, income gap, bush tax cuts,