Rich Cheat More On Taxes, New Study Shows

No shit. Who would have guessed that the rich would take advantage of tax loopholes generously supplield by our elected officials? We sure didn't.

According to a new study based on unpublished Internal Revenue Service data, plutocrats hide 21% of their actual income. Their entitement amounted to a tax gap of $345 billion in 2008. Just to underscore this point, that $345 billion is the shortfall the middle class has to absorb in additional taxes, program cuts, and general fleecing.

The main reason for the income-related cheating disparity: Higher income folks receive more of their income from sources that are easier to hide, including self-employment earnings; income from rents, partnerships and S corporations; and capital gains.

Aren't rich people grand?